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KUALA LUMPUR (Sept 8): FBM KLCI fell 1% in the midday break Tuesday as a drop in shares of index-linked glove makers dragged the gauge down, amid firmer regional markets .
At 12:30 p.m., the FBM KLCI lost 15.32 points to 1,501.06.
The amplitude of the market turned negative with 610 losers and 158 winners, while 634 counters were traded unchanged. The trading volume was 5.71 billion shares valued at RM2.44 billion.
The main losers were Nestlé (M) Bhd, Kossan Rubber Industries Bhd, PPB Group Bhd, Duopharma Biotech Bhd, Carlsberg Brewery Malaysia Bhd, Apex Healthcare Bhd, Vstecs Bhd, Kuala Lumpur Kepong Bhd, Hartalega Holdings Bhd and Top Glove Corp Bhd.
Actively traded stocks include Pegasus Heights Bhd, Evergreen Fibreboard Bhd, Nova MSC Bhd, Fintec Global Bhd, XOX Bhd, NetX Holdings Bhd, Borneo Oil Bhd, and Trive Property Group Bhd.
Among the winners are Ipmuda Bhd, Kluang Rubber Company (Malaya) Bhd, Lii Hen Industries Bhd, Ayer Holdings Bhd, MBM Resources Bhd, Evergreen, Fraser & Neave Holdings Bhd and Jaycorp Bhd.
Reuters He said Asian stocks and US equity futures regained some balance on Tuesday after a small rally in European markets as investors looked to see whether high-flying US tech stocks could rebound from their recent slide.
Japan’s Nikkei advanced 0.4% as revised data confirmed that the nation had plunged into its worst postwar contraction, and business spending was hit harder by the coronavirus than was initially estimated, said.
Hong Leong IB Research said that ahead of the monetary policy committee meeting on September 10, the KLCI is expected to extend its consolidation mode with (supports at 1,480-1,508; resistances at 1,542-1,568 levels) as volatility remains elevated amid domestic political uncertainty (ahead of the Sabah state elections on September 26), the resurgence of Covid-19 cases at global hotspots, increasing geopolitical tension between the United States and China, wild swings on Wall Street amplified by concerns of a Covid-19 resurgence in the fall and winter (though development timelines may cushion a sharp correction), stalemate in Congress on additional pandemic aid, and political uncertainty ahead of the US presidential election on November 3.
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