Semicon, tech stocks and glove makers rebound


The muted sentiment on Bursa was in line with the weaker key Asian markets.

KUALA LUMPUR: Semiconductor and tech related stocks and glove makers rebounded on Friday as market sentiment improved slightly but the FBM KLCI failed to close above the key 1,600 level.

At 5pm, the KLCI was up 1.94 points or 0.12% to 1,596.74. Turnover was 6.63 billion shares valued at RM4.81bil. There were 586 gainers, 535 losers and 454 counters unchanged.

The muted sentiment on Bursa was in line with the weaker key Asian markets. Japan’s Nikkei 225 fell 0.44%, Shanghai Composite 0.4%, Hong Kong Hang Seng Index lost 1.6%, Singapore’s Straits Times Index 0.85% and South Korea’s Kospi 0.64%.

Among the semicon and tech stocks, Vitrox climbed 90 sen to RM16.80, UWC 70 sen to RM12.46, MPI 66 sen to RM30.52, Unisem 57 sen to RM8.30 and Pentamaster 31 sen to RM6.19.

Glove maker Hartalega rose 52 sen to RM12.32, Supermax 42 sen to RM6.53 and Top Glove 23 sen to RM6.25 and they helped shore up the KLCI which was dragged down by telcos, IHH and Tenaga. Kossan ended 18 sen higher at RM4.19.

Among the telcos, Axiata and Maxis fell 12 sen to RM3.46 and RM4.93, Digi two sen to RM4 but Telekom gained 10 sen to RM6.

IHH, Tenaga and MAHB shed 10 sen each to RM5.20, RM9.78 and RM5.20 respectively. Genting lost eight sen to RM4 but GentingM gained two sen to RM2.40. Sime Darby ended the day down eight sen to RM2.26.

Plywood company Cymao rebounded 37 sen to RM2.40 after several days of profit taking as sentiment firmed up on its fresh property development contracts.

As for banks, Public Bank ended 10 sen higher at RM21.66, Maybank shed five sen to RM8 while CIMB and Hong Leong Bank shed two sen each to RM3.98 and RM17.56.

US light crude oil fell 95 cents to US$52.18 and Brent 89 cents lower ar US$55.21.

Among the oil and gas players, Petronas Dagangan gained eight sen to RM2020, Dialog advanced four sen to RM3.26, Petronas Gas lost two sen to RM16.50 and Petronas Chemicals unchanged at RM7.35.

As for plantations, PPB Group edged up two sen to RM18.84. IOI Corp lost one sen to RM4.36, KL Kepong two sen lower at RM23.48 and Sime Plantation flat at RM4.98.

PLS, which has proposed to place out up to 19 million new shares to former CIMB Group Holdings Bhd chairman Datuk Seri Nazir Razak at 95 sen a share, saw the share proce closing four sen higher at 98 sen.

Contracts tied to the major US stock indexes slipped in early Friday morning trade in New York as Wall Street appeared headed to close out the record-setting week on a muted note, CNBC reported.

Dow futures lost 228 points while S&P 500 and Nasdaq-100 futures also traded in negative territory.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 18
Cxense type: free
User access status: 3

   

Did you find this article insightful?

Yes
No

83% readers found this article insightful

Next In Business News

Geely Auto and Volvo Cars to launch powertrain venture after merger scrapped
Malaysia Airlines to introduce digital travel health pass
Rising aluminium prices lift Press Metal profits�
AEON Malaysia registers RM41.4mil net profit in FY20
AirAsia takes RM320mil hit due to Japan unit bankruptcy
Destini, KTMB in joint venture targeting rail MRO services
DRB-Hicom makes a net profit of RM554mil in FY20
Sunway joins global push for climate-related financial disclosures
Vitrox to expand capacity as Q4 revenue surges to new high�
Strong demand for steel products powers Prestar’s earnings

Stories You'll Enjoy


Vouchers