Slight profit-taking weighs on FBM KLCI

KUALA LUMPUR: The domestic market started on a slightly bearish note following yesterday's late climb into positive territory.

At 9.03am, the FBM KLCI was down 2.44 points to 1,605.81.

Anxieties over a potential fourth wave of the coronavirus pandemic have shored up the prices of glove counters while simultaneously dampening investor sentiment in recovery stocks.

"We expect to see follow-through buying interest in the glove counters given the rising Covid-19 daily confirmed cases in the country and across the globe," said Malacca Securities Research.

It added that the positive sentiment in the Nasdaq, which surpassed the 14,000 level overnight, may spill over to the technology stocks on the local front.

In early morning trading, investors were seen taking some profit off Top Glove, which dropped four sen to RM5.40. Hartalega fell 10 sen to RM9.90 and Supermax was down two sen to RM5.08.

Bank stocks also weighed on the market with Maybank sliding two sen to RM8.28 and Public Bank shedding one sen to RM4.22.

of actives, Lambo was up 0.5 sen to 2.5 sen, Jadi dropped one sen to 11 sen and G3 slid one sen to 20.5 sen.
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Bursa Malaysia , FBM KLCI , equities


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