KUALA LUMPUR: Semiconductor and tech stocks led the broader market higher while Public Bank nudged the FBM KLCI higher in early Thursday trade as investors sentiment was shored by the record high of global stocks.
KUALA LUMPUR: Semiconductor, tech stocks and glove makers weighed on Bursa Malaysia and dampened investors’ mood after several straight days of selling by local institutions.
KUALA LUMPUR (Jan 20): The main index at Bursa Malaysia rose 0.81% at the midday break Wednesday as renewed buying interest in index-linked glove makers lifted the index after the whole of Malaysia, with the exception of Sarawak, was placed under the movement control order (MCO) from Jan 22 to Feb 4.
At 12.30pm, the FBM KLCI rose 12.98 points to 1,614.86.
Gainers led losers by 390 to 324, while 736 counters traded unchanged. Trading volume was 3.08 billion shares valued at RM2.09 billion.
The gainers included Public Bank Bhd, JF Technology Bhd, Unisem (M) Bhd, Mi Technovation Bhd, Malaysian Pacific Industries Bhd, Top Glove Corp Bhd, Hartalega Holdings Bhd and Supermax Corp Bhd.
KUALA LUMPUR: Public Bank, Maybank, IHH Healthcare and Sime Plantations dragged the FBM KLCI into the red at the close on Friday on rising Covid-19 cases and weaker commodity prices.
At 5pm, the KLCI was down 8.7 points or 0.53% to 1,627.01. Turnover was 5.85 billion shares valued at RM4.06bil. The broader market was mixed with 512 gainers, 571 losers and 480 counters unchanged.
The ringgit dipped 0.01% against the US dollar to 4.0370.
The recent surge in Covid-19 infections saw the government imposing a second round of Movement Control Order to curb the spread of the pandemic.
CGS-CIMB Equities Research estimates the daily economic losses due to the second round of Malaysia’s Movement Control Order (MCO), which takes effect from Jan 13 to 26, at RM750mil.
The main index of Bursa Malaysia struggled to hold on to its gains at the midday break today as index-linked glove makers retreated, while broader market sentiment was mixed as investors appeared to have digested clarity of the country’s state of emergency and second movement control order (MCO 2.0) rules.