FBM KLCI stays below 1,600-mark at closing

KUALA LUMPUR: The FBM KLCI gave up all its hard-earned gains to close in the red on Tuesday as banking and gloves counters weighed.

At 5pm, the 30-stock index ended down 2.48 points, or 0.16% to 1,588.25. The index opened 0.94 of-a-point better at 1,591.67. The market traded within a range of 25.72 points between an intra-day high of 1,597.42 and a low of 1,587.87 during the session.

There were 524 gainers, 529 losers and 440 counters traded unchanged on the Bursa Malaysia. Turnover stood at 7.48 billion shares valued at RM4.12bil.

Dealers said profit-taking in banking counters was the main reason for the FBM KLCI's retreat.

Hartalega, which saw its net profit surged to RM1.12bil in the fourth quarter ended March 31,2021, closed five sen lower at RM9.93.

For FY21, Hartalega’s net profit jumped by 565.4% to RM2.88bil from RM433.62mil in FY20.

Supermax fell six sen to RM5.82 while Top Glove declined three sen to RM5.45.

Nestle fell 20 sen to RM135.80, Axiata declined eight sen to RM3.70 and Kuala Lumpur Kepong fell six sen to RM22.08.

Maybank fell three sen to RM8.24, pushing the index lower by 0.5271 points. Public Bank lost one sen to RM4.12, dragging the index 0.2988 points lower.

CIMB declined two sen to RM4.11, nudging the index lower by 0.3083 points.

On the broader market, Transoceran was the top gainer, rising RM1.02 to RM6.20. Hengyuan added 34 sen to RM5.60, Gopeng gained 29.5 sen to RM1.13 and Panasonic Manufacturing rose 24 sen to RM31.50.

ViTrox and Pentamaster fell 26 sen each to RM15.74 and RM5.40 respectively. Heineken Malaysia fell 20 sen to 25.52 while Dataprep declined 16 sen to RM1.50.

On the external front, MSCI's Asia ex-Japan stock index was firmer by 0.16%.

South Korea’s Kospi rose 20.17 points, or 0.64%, at 3,147.37.

Hong Kong’s Hang Seng index closed up 199.60 points, or 0.7%, at 28,557.14.

Chinese markets are closed from May 1-5 for the Labour Day holiday.

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