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PETALING JAYA: Bursa Malaysia maintains its bearish tone as the third nationwide movement control order (MCO 3.0) which starts today weighs on sentiments
Bursa Malaysia followed most key Asian markets to close in the red on Tuesday, trekking the overnight tech sell-off on the Wall Street, while declining counters totalled nearly 1,000.
Bursa Malaysia closed lower on Monday as the undertone of the stock market remained cautious on continued foreign selling and ahead of the first quarter GDP data on Tuesday.
Glove makers gave the FBM KLCI the much-needed lift as the Covid-19 cases rose to 4,498 – the highest since late January – while also advancing were IHH Healthcare and plantations. At 5pm, the KLCI was up 9.12 points or 0.58% to
Blue chips snapped their losing streak on Thursday on some buying of IHH Healthcare and KL Kepong but gloves lost ground amid a weaker broader market though there were some bright spots in the economic outlook.
The FBM KLCI closed at the day's low on Wednesday, weighed down losses in banks and gloves as buying sentiment remained weak due to the rising Covid-19 numbers and also tracking the downbeat key Asian markets.
Asian shares were mostly higher on Tuesday after strong corporate earnings and economic data lifted stocks on Wall Street.
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.
Returning investor interest in glove stocks amid the Covid-19 pandemic enabled the FBM KLCI recoup more than half of the previous day’s losses.