FBM KLCI extends decline for fifth day, gloves slide

KUALA LUMPUR: The FBM KLCI fell for a fifth straight session, slipping below the 200-day simple moving average as the renewal of lockdown measures weighed on sentiment.

Glove counters were the biggest decliners, leading the market lower on the back of expectations that glove demand and average selling prices will moderate moving forward.

At 12.30pm, the key index was down 11.12 points to 1,564.55. Market breadth was overwhelmingly negative with 876 decliners versus 212 gainers.

Among the glove heavyweights, Top Glove dropped 24 sen to RM5.08, Hartalega dove 53 sen to RM9.30 and Supermax slumped 64 sen to RM4.93.

Other leading laggards included Petronas Chemicals down five sen to RM8.11, Public Bank falling two sen to RM4.09 and IHH sliding three sen to RM5.17.

On the broader market, top actives were Focus down one sen to nine sen, Dataprep falling six sen to RM1.89 and Tanco up one sen to 10 sen.

In Asian markets, Japan's Nikkei was up 1.8% and South Korea's Kospi rose 0.35%.

China's composite index fell 0.2% and Hong Kong's Hang Seng added 0.2%.
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Bursa Malaysia , FBM KLCI , equities


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