Semicon, glove stocks losing their grip

KUALA LUMPUR: Semiconductor, tech stocks and glove makers weighed on Bursa Malaysia and dampened investors’ mood after several straight days of selling by local institutions.

At 5pm, the FBM KLCI was down 6.74 points or 0.42% to 1,594.80. Turnover was 6.71 billion shares valued at RM4.28bil. The broader market was weaker with 2.3 decliners to one advancer. There were 812 losers to 347 gainers and 413 counters unchanged.

MPI, which recently hit an all-time high, fell 66 sen to RM29.86, KESM and MI 30 sen each to RM16.88 and RM4.77.

Hartalega and Supermax’s decline weighed on the KLCI. Hartalega lost 22 sen to RM11.80 and Supermax 20 sen to RM6.11 with 15.55 million shares done. Top Glove lost 12 sen to RM6.02 and Kossan 11 sen to RM4.01.

MAHB lost 21 sen to RM5.30 as investors stayed cautious about its plans to set aside RM400mil for capital expenditure this year as it gears up for an air travel recovery by 2023.

Steel storage cabinet manufacturer Euro Holdings skidded 75 sen to RM4.24 and it was the top loser with 4.96 million shares done. The share price had run up to RM5.76 on Jan 16 from 85 sen on Dec 13.

Genting lost 11 sen to RM4.08, Press Metal nine sen to RM8.71 and Tenaga eight sen to RM9.88 while GentingM shed two sen to RM2.38.

Petronas Dagangan climbed 12 sen to RM20.12 and Petronas Gas four sen to RM16.58 but Petronas Chemicals slumped 19 sen to RM7.35. Dialog inched up two sen to RM3.22.

Among the banks, Public Bank rose 24 sen to RM21.56, RHB Bank six sen to RM5.35, CIMB lost four sen to RM4 and also down four sen was Maybank to RM8.05.

As for plantations, PPB Group fell 26 sen to RM18.82, Sime Plantation four sen to RM4.98 while KL Kepong was unchanged at RM23.50. IOI Corp edged up one sen to RM4.37.

Amtel, which focuses on telematics electronics and telecommunications and fibre optic cables, was the top gainer, up 39 sen to RM3.57.

On the external front, Japan’s Nikkei 225 rose 0.82%, Shanghai’s Composite jumped 1.07%, South Korea’s Kospi rallied 1.49%, Singapore’s Straits Times Index 0.61% higher but Hong Kong’s Hang Seng Index fell 0.12%.

US light crude oil fell 32 cents to US$52.99 and Brent 31 cents to US$55.77.

The ringgit was quoted at 4.0304 to the US dollar.

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