Disappointing close for Bursa, Public Bank retains part of gains


KUALA LUMPUR: Bursa Malaysia joined key Asian markets to close lower on Tuesday as selling of glove stocks and Petronas-linked counters wiped out the earlier gains.

At 5pm, the FBM KLCI was down 1.31 points or 0.08% to 1,575.31 – off the intra-day high of 1,609. Turnover was 5.93 billion shares valued at RM4.73bil. The broader market was mixed with 601 gainers, 537 losers and 490 counters unchanged.

Among the glove makers, Hartalega fell 56 sen to RM12.44, Supermax 35 sen to RM6.65, Top Glove 32 sen to RM6.20, Careplus 18 sen to RM2.45, Kossan 17 sen to RM4.33 and Comfort 16 sen to RM3.14.

Public Bank, whose four-for-one bonus shares went ex, ended the day up 14 sen to RM4.40 sen but off the day’s best of RM4.97.

It closed at RM21.30 on Monday before the bonus share price adjustment. The bonus shares will be deposited into the shareholders’ CDS accounts after market close on Friday.

Hong Leong Bank was the top gainer among the banks, adding 22 sen to RM17,46, RHB Bank added five sen to RM5.28, CIMB three sen to RM3.87 but AmBank lost four sen to RM3.15 and Maybank six sen to RM7.82.

Among the oil and gas stocks, Petronas Dagangan fell 20 sen to RM19.60, Petronas Chemicals 16 sen to RM6.75 and Petronas Gas 12 sen to RM16.10. Dialog gained 11 sen to RM3.14, rebounding from the selling the previous day.

US light crude oil rose two cents to US$52.79 and Brent three cents to US$55.91.

The fall in crude palm oil prices saw Sarawak Oil Palm decline by 19 sen to RM3.88. Sime Plantation and KL Kepong shed two sen each to RM4.96 and RM23.48 but IOI Corp rose two sen to RM4.35.

However, semiconductor and tech stocks fared well with MPI at another fresh record high of RM32.40, up RM1.70, UWC 44 sen to RM12.54, KPower 37 sen to RM2.62 and Greatec 28 sen to RM5.76.

Elevator maintenance company EITA saw strong interest as its share price rallied 55 sen to RM3.60.

Nearly all key Asian markets closed lower, with Hong Kong shares, slumping 2.5% on Tuesday, pulling back sharply from the previous session's rally, as global investor concerns over the timing of aggressive US stimulus.

Reuters reported the Hang Seng index ended down 767.75 points or 2.55% at 29,391.26 - biggest one-day drop for the index since May 22,2020. The index closed 2.42% firmer on Monday.

Japan’s Nikkei 225 fell 0.96%, Shanghai’s Composite lost 1.51% down while Singapore’s Straits Times Index ended 0.95% lower.

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

86% readers found this article insightful

Next In Business News

Tenaga forecasts rebound in revenue
Mustapa: 12th Malaysia Plan to be tabled when Parliament reconvenes
Biggest players in short-selling are getting a pass
Nothing the stock market does ever scares retail daredevils
US Senate passes US$1.9 trillion relief bill
AirAsia Group plans air taxi, drone delivery service
Tengku Zafrul: Govt tapping into more data for effective aid
AirAsia recovering well via digital transformation
Texas grid operator made $16bil price error during winter storm, watchdog says
CPO futures to see quiet trading next week

Stories You'll Enjoy


Vouchers