Malaysia’s benchmark index retreated as profit-taking in key heavyweights weighed on sentiment, while overall market activity remained active. Summary FBM KLCI fell 0.83% to 1,684.93 , dragged by losses in banking and selected large-cap names, despite steady trading participation. Market Performance FBM KLCI : 1,684.93 (-0.83%) FBM Mid 70: -0.00% (flat) FBM Small Cap: -0.23% FBM ACE: +0.20% Broad market was mixed , with weakness concentrated in large caps. Market Breadth & Trading Activity Total volume: 3.54 billion shares Total value: RM4.19 billion Gainers: 456 Losers: 678 Unchanged: 550 Market breadth turned negative , reflecting cautious sentiment. Top Movers – KLCI Gainers Axiata (6888.MY) +1.54% Petronas Gas (6033.MY) +1.18% Sunway (5211.MY) +1.15% Losers Hong Leong Bank (5819.MY) -3.29% Maybank (1155.MY) -3.02% CIMB (1023.MY) -2.47% Banking sector weakness was the main ...
KUALA LUMPUR (April 24): The FBM KLCI closed down 11.79 points or 0.85% at 1,369.85 today with Asian stock indices, spurred by doubts about the progress in the development of drugs to treat Covid-19 patients. Such sentiment, however, led to gains in rubber glove manufacturers' share prices, in anticipation lingering Covid-19 concerns will result in higher demand for gloves.
Across Bursa Malaysia at 5pm today, 4.69 billon shares were traded for RM2.49 billion. There were 445 gainers and 400 decliners across the exchange, as news Gilead Sciences Inc's antiviral drug Remdesivir which had failed to help severely ill Covid-19 patients in its first clinical trial, hit global stock market sentiment.
"Any piece of bad news is likely to rattle the market," New York-based wealth management firm Inverness Counsel chief investment strategist Tim Ghriskey was quoted as saying by Reuters.
Across Bursa, top decliners included Heineken Malaysia Bhd, besides KLCI stocks MISC Bhd and Tenaga Nasional Bhd.
Top gainers included glove makers Top Glove Corp Bhd, Kossan Rubber Industries Bhd and Supermax Corp Bhd.
Most active stocks included glove producer Careplus Group Bhd, which registered a trading volume of some 137 million shares. Its share price closed up 5.5 sen or 14.67% at 43 sen.
Bursa’s healthcare index, which includes glove manufacturers, ended up 28.73 points or 2.02% at 1,449.77, to be the leading gainer among Bursa indices.
Source: The Edge
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