KLCI steps back 0.86% to below 1,500-level

KUALA LUMPUR: Shares on Bursa Malaysia ended in the red, in line with regional markets, as glove and banking counters retreated.

At closing, the FBM KLCI fell 12.91 points, or 0.86% to 1,488.88. The index dropped 0.86% on a weekly basis.

Broad market sentiment continued to be weak, with 594 losers outpacing 278 gainers and 455 counters which traded unchanged. Turnover was at 2.6 billion shares valued at RM1.74bil.

Nestle was the top decliner, falling RM1.10 to RM131.20, followed by Petronas Dagangan, which lost 76 sen to RM19.54, and Genetec, which shed 54 sen to RM38.

Hartalega fell 32 sen to RM5.20 and Top Glove closed down 25 sen to RM2.16.

Top Glove posted a net profit of RM185.71mil in the first quarter ended Nov 30, 2021 compared with RM2.35bil posted a year ago. Its revenue in the first quarter fell to RM1.58bil from RM4.76bil a year prior.

It has declared a dividend payment of 1.2 sen per ordinary share, amounting to RM96mil. The ex date for the dividend is Dec 24, 2021 while the payment date is Jan 10, 2022.

Among the banks, Maybank added one sen to RM8.12, Public Bank closed unchanged at RM3.90, CIMB fell six sen to RM5.18, RHB Bank lost seven sen to RM5.35 and Hong Leong Bank declined two sen to RM17.98.

Meanwhile, Reuters reported that US West Texas Intermediate (WTI) crude futures lost 26 cents, or 0.4%, to US$70.68 a barrel at 0735 GMT, after sliding 2% in a volatile session the previous day.

Brent crude futures dropped 0.6%, or 41 cents, to US$74.01 a barrel after falling 1.9% on Thursday.

Asian bourses closed lower today, with Japan's Nikkei 225 losing 1%, South Korea’s Kospi fell 0.64%, Hong Kong’s Hang Seng shed 1.07% and China’s Shanghai Composite closed down 0.18%.