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KUALA LUMPUR: Hartalega
, Top Glove, Supermax and Kossan came under heavy selling pressure on Monday, the first trading day of 2021, as the regulated short sale (RSS) that went into effect wiped out RM13.56bil in the total capitalization of the market.
The defeat at the glove makers saw Hartalega close RM1.66 at RM10.48 or 13.6% at RM10.48 with 37.8 million shares made.
Hartalega, which was the main loser of the day, saw RM5.69bil disappear, reducing its market capitalization to RM35.92bil. Its issued shares were 343 billion.
Top Glove closed 62 sen at RM5.50, but off the initial low of RM5.23. His announcement in the afternoon session of a special 20% dividend helped him recoup some losses.
In a press release on Monday, the world’s largest glove maker said the special dividend was in addition to its existing dividend policy of a 50% dividend payment rate on its after-tax earnings and minority interest for the second, third and fourth quarters of the financial year. 2021.
Top Glove saw RM5.08bil erased from its market cap, reducing it to RM45.11bil. Its issued shares were 8.20 billion. It was very actively traded with 347.86 million shares carried out.
Supermax closed 50 sen at RM5.51 with 63.54 million shares made. The fall in its share price erased RM2.72bil from its market capitalization and reduced it to RM14.99bil.
This was based on its issued shares of 2.72 billion.
The three stocks, which are part of the 30-share FBM KLCI, weighed on the index, which closed 24.64 points or 1.51% lower at 1,602.57.
The turnover was 7,410 million shares valued at RM5.88bil. The decrease of thrashed advances from 934 to 360, while 331 counters did not change.
Kossan closed 56 sen at RM3.94 with 49.64 million shares realized.
The drop in its share price wiped out RM1.43 billion from its market capitalization and reduced it to RM10.08 billion. Its issued shares were 2,560 million.
Duopharma, which will package and distribute the Covid-19 vaccine, fell 20 sen to RM3.18. Pharmaniaga dropped four sen at RM4.96.
Other KLCI shares that closed lower were Petronas Chemicals, down 22 sen at RM7.21, Petronas Gas up two sen at RM17.20 and Petronas Dagangan unchanged at RM21.40. Dialog gained two sen to RM3.47.
Maybank fell 11 sen to RM8.35, Public Bank eight sen to RM20.52, CIMB two sen to RM4.28 but Hong Leong Bank gained 18 sen to RM18.38 and RHB Bank five sen to RM5.50.
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