KLCI pares loss, stays in red as gloves drag

KUALA LUMPUR: The FBM KLCI pared some of its losses on Thursday but sellers still ruled.

At 5pm, the FBM KLCI was down 7.37 points to 1,590.57. The index had earlier dipped to its intraday low of 1,586.61.

Sellers led buyers by 545 to 539, while 425 counters traded unchanged. Volume was 6.88 billion shares, valued at RM3.59bil.

Of the 30 FBM KLCI counters, 18 closed lower while eight closed higher and four traded unchanged.

Hartalega fell 24 sen to RM8.68, Top Glove lost 10 sen to RM5 and Supermax declined nine sen to RM4.01.

Petronas Gas lost 20 sen to RM16.20, PPB shed 12 sen to RM18.56 and Sime Plantation fell nine sen to RM4.45.

Among the banks, Maybank lost four sen to RM8.20, CIMB fell six sen to RM4.48 and RHB Bank declined three sen to RM5.45.

On the broader market, Computer Forms hit limit-up, rising 84 sen to RM3.64. Heineken rose 68 sen to RM24.22, Sern Kou-WA gained 36 sen to RM2.16. Choo Bee added 19 sen to RM2.39

Progressive Impact Corp, the most active counter, rose 6.5 sen to 23 sen with 386 million shares traded. It’s unit has accepted a SAR 24.32mil (RM27.88mil) contract for the provision of pest control monitoring services in Makkah, Saudi Arabia.

Serba Dinamik climbed one sen to 83.5 sen with 360 million shares done.

Meanwhile, Reuters reported that oil prices rose for a third day on Thursday on expectations for a surge in fuel demand.

Brent crude futures were up three cents to $71.38 a barrel while US West Texas Intermediate crude rose three sen to US$68.86 per barrel.

Elsewhere in the region, Japan’s Nikkei 225 0.39% to 29,058.11.

South Korea’s Kospi added 23.20 points, or 0.72%, at 3,247.43 while Hong Kong’s Hang Seng closed down 331.59 points or 1.13% at 28,966.03.

China’s Shanghai Composite index was down 0.36% at 3,584.21 and the blue-chip CSI300 index 0.66% lower at 5,255.29.

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