Glove makers underpin Bursa’s advance as infections rise


At Bursa on Monday, foreign funds were net buyers at RM87.9mil and local retail investors at RM1.6mil but local institutions were net sellers at RM89.4mil.

KUALA LUMPUR: Glove makers underpinned Bursa Malaysia’s advance in early Tuesday trade with demand for gloves continuing to be strong as global cases surpassed 90 million on Monday.

At 9.15am, the FBM KLCI was up 3.53 points or 0.22% to 1,620.78. Turnover was 586.24 million shares valued at RM383.98mil. There were 297 gainers, 289 losers and 315 counters unchanged.

Asian equities were mixed after US stocks fell for the first time in five sessions with prices near all-time highs, Bloomberg reported.

Shares dipped in South Korea and were steady in Japan, where markets reopened after a holiday. Australian shares were modestly higher.

JF Apex Research said following the negative performances in the US and Europe, the KLCI could remain pressured and extend its downtrend towards the support of 1,570 points.

At Bursa on Monday, foreign funds were net buyers at RM87.9mil and local retail investors at RM1.6mil but local institutions were net sellers at RM89.4mil.

Worldwide coronavirus cases surpassed 90 million on Monday, according to a Reuters tally.

On the home front, the government had imposed movement restrictions once again from Jan 13-26. However, this time the movement control order will not be nationwide, as the states have been placed under three separate levels.

Supermax rose 31 sen to RM7.34, Hartalega 28 sen to RM12.50, Top Glove 21 sen to RM6.64, Comfort 18 sen to RM3.61, Careplus 17 sen to RM2.94, Rubberex 14 sen to RM2 and HLT added 10 sen to RM1.48.

Other gainers were Eng Kah, up 19 sen to RM1.40, Telekom 18 sen to RM5.69 and PIE 14 sen to RM2.97.

Carlsberg fell 36 sen to RM20.58 and Heineken 20 sen to RM21.94.

PPB Group was the top loser, down 58 sen to RM18.72, UMW 13 sen to RM3.29, KPower 12 sen to RM2.06, MAHB 10 sen to RM5.15.

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glove makers , MCO , foreign funds

   

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