KLCI weighed down by gloves, banks

KUALA LUMPUR: The FBM KLCI fell into negative territory by the lunch break, dragged lower by glove and bank counters in the final week of the corporate earnings season.

At 12.30pm, the key index was down 4.14 points to 1,580.79. Trading activity on Bursa Malaysia remained robust with 8.12 billion shares exchanging valued at RM3.08bil.

Top Glove fell 18 sen to RM5.87, Hartalega dropped 26 sen to RM11.80 and Supermax slid 21 sen to RM5.59.

Financial stocks were also in the red ahead of their earnings announcements this week.

Maybank dropped four sen to RM7.99, Public Bank fell two sen to RM4.11, Hong Leong Bank lost four sen to RM17.74 and CIMB shed six sen to RM4.19.

In commodity plays, Press Metal was down 23 sen to RM8.67 while Sime Darby Plantation shed fiven sen to RM4.89.

On the broader market, consumer counters were seen picking up led by Heineken climbing 92 sne ot RM24.42 and Carlsberg rising 50 sen to RM23.88.

Malaysia Airports Holdings was also a top gainer, adding 28 sne to RM5.88.

Of actives, AT Systemization rose two sne to 16 sen, Mestron gained three sen to 26.5 sen and Dagang Nexchange jumped 7.5 sen to 76.5 sen.

Meanwhile, gains on Asian markets were capped as bond prices fell leading to higher yields and making equities look less attractive.

Japan's Nikkei rose 0.9% and South Korea's Kospi gained 0.26%.

China's benchmark index was down 0.1% while Hong Kong's Hang Seng slipped 0.5%.

In Australia, the ASX200 was up 0.1%.
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Bursa Malaysia , FBM KLCI , equities


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