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KUALA LUMPUR: Glove makers rose in early trading on Wednesday and provided a boost to Bursa Malaysia, but some Maybank sales weighed on the FBM KLCI.
At 9:10 a.m. M., The KLCI was down 1.37 points or 0.08% at 1,633.62. The turnover was 610.84 million shares valued at RM 222.35 thousand. There were 312 winners, 188 losers, and 354 unchanged counters.
Rakuten Trade expects the benchmark index to test its immediate support at 1,630 on Wednesday. However, extending the vehicle sales tax exemption for another six months may induce some buying interest in auto stocks with DRB Hicom as your favorite.
In Bursa on Tuesday, foreign funds resumed their sales, with net sales at RM43.3 million and net sellers from local institutions also at RM61.4 million, but the sale was well absorbed by local retail investors who were net buyers to 104.7 million ringgit.
Supermax rose 16 sen to RM6.22, Hartalega
14 sen at RM12.08, Kossan 13 sen at RM4.83 and Comfort nine sen at RM3.05.
Toyo Ventures hit the cap, up 30 sen to RM1 and its collateral increased by 26.5 sen to 46 sen after it finally executed the build, operate and transfer (BOT) contract with the Vietnam Ministry of Industry and Commerce. The contract was to build the US $ 3.23bil Song Hau 2 Thermal Power Plant project, which was first announced in 2008.
Allianz’s surprise dividend sent its shares up 26 sen to RM14.78.
Maybank fell six sen to RM8.52 and MAHB 12 sen to RM5.81. KL Kepong lost 40 sen to $ 23.80.
On the external front, Bloomberg reported that Asian equities fell after US equities fell back from record highs on dwindling prospects for tighter controls on government aid to individuals. The dollar weakened.
Stocks fell in Japan, Australia and South Korea. S&P 500 futures fluctuated after the benchmark closed modestly lower, while an index of US small-cap stocks fell nearly 2%.
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