KUALA LUMPUR (Feb 23): The FBM KLCI Index continued to end lower today following declines in its glove maker constituents, in contrast with other regional bourses trending higher in anticipation of insights from the US Federal Reserve.
The local benchmark index closed 0.34% or 5.41 points lower today at 1,565.05, following declines in Hartalega Holdings Bhd, Top Glove Corp Bhd and Supermax Corp Bhd.
Hartalega fell by 4.98% or 58 sen to RM11.06, valuing it at RM37.91 billion. Meanwhile, Top Glove was the local bourse’s 19th top value loser, finishing 1.9% or 11 sen lower at RM5.67, yielding a market value of RM46.51 billion.
Supermax ended the trading day 1.45% or eight sen lower at RM5.45, valuing it at RM14.83 billion.
KUALA LUMPUR (Feb 8): Techna-X Bhd (formerly known as Sino Hua-An International Bhd) is acquiring a 25% stake in telco-media company MBits Digital Sdn Bhd for RM12.5 million in a bid to expand its digital transformation solutions offerings.
In a statement, the company said it had entered into a share purchase agreement with MBits founder and chief executive officer Saraleena Nattaya Azmi for the acquisition of 10 million shares, representing a 25% equity stake in MBits.
Techna-X said it intends to leverage MBits’ licenses, product, and service offerings to improve its efficiencies.
MBits is an Internet Protocol TV station operator and a digital platform content creator. The company is the only company holding a full broadcasting licence as well as licences for the full telco spectrum in Malaysia, according to Techna-X.
As at 3.15pm, the benchmark FBM KLCI had shed 6.13 points to 1,637.77.
The overall market breadth skewed towards negative territory with losers outpacing gainers 601 to 490, while 466 counters were unchanged, 571 untraded and 22 others suspended.
Volume stood at 6.51 billion units worth RM2.81 billion.
Glove makers Hartalega Holdings Bhd slid 56 sen to RM11.90, Top Glove Corp Bhd declined 19 sen to RM6.07 and Supermax Corp Bhd weakened 31 sen to RM6.08.
Among other heavyweights, Malayan Banking Bhd (Maybank) rose four sen to RM8.58, Petronas Chemicals Group Bhd (PetChem) added one sen to RM7.50, IHH Healthcare Bhd gained two sen to RM5.74 and CIMB Group Holdings Bhd added three sen to RM4.33, whie Hong Leong Bank Bhd (HLB) and Maxis Bhd were flat at RM18.60 and RM5.07 respectively.
The benchmark index closed 0.38% or 6.33 points lower at 1,641.17.
Investors offloaded their holdings ahead of the long Christmas weekend, remisier Jeffry Azizi Jaafar told theedgemarkets.com.
He said sentiment was cautious as the country s Covid-19 cases remained high, especially among foreign workers.
Jeffry expects the KLCI to stay muted next week in the absence of window-dressing activities.
On the broader market, 587 counters ended lower versus 514 gainers, while 480 others were unchanged.
A total of 6.67 billion securities worth RM2.83 billion were traded. This is the lowest trading value since Oct 1 when it stood at RM2.61 billion.
Yesterday, 6.31 billion securities changed hnads at a total value of RM3.41 billion.