MONEY MASTER

  KUALA LUMPUR (Nov 20): The FBM KLCI ended 10.07 points or 0.64% higher at 1,593.75 today, to snap two straight days of losses, as the rise in global Covid-19 cases spurred buying of rubber glove manufacturers’ shares. Across Bursa Malaysia at 5pm, 9.01 billion securities were traded for RM5.16 billion. Top gainers included glove manufacturers Top Glove Corp Bhd and Supermax Corp Bhd on bargain hunting and as the rise in the number of global Covid-19 cases checked investors’ vaccine-driven optimism. Top Glove’s share price closed 35 sen or 5.04% higher at RM7.29, while Supermax added 32 sen or 4.12% to RM8.08. Bursa’s Healthcare index, which includes rubber glove manufacturers as constituents, ended up 1.43%. Top Glove and Hartalega Holdings Bhd are also members of the 30-stock KLCI. The KLCI snapped its two-day losing streak today, after falling 21.07 points and 5.4 points respectively yesterday (Nov 19) and Wednesday (Nov 18). “At this juncture, the index is anticipa...

  KUALA LUMPUR (Nov 19): The FBM KLCI closed down 21.07 points or 1.31% at its intraday low at 1,583.68 today, while trading volume across Bursa Malaysia slipped below 10 billion securities as the rising number of global Covid-19 cases checked vaccine-driven market optimism. At 5pm, 9.53 billion securities were traded for RM4.48 billion across Bursa. "The local market should pause for a profit-taking breather following the recent rally due to economic recovery plays, which will be healthy to check extreme overbought momentum and excessive gains,” TA Securities Holdings Bhd analysts wrote in a note earlier today. Rakuten Trade Sdn Bhd head of research Kenny Yee told theedgemarkets.com today that the weakness in the KLCI was due to the sell-down in banking and rubber glove counters. Yee said: "The sell pressure seen in banking stocks was due to profit-taking activities as their share prices have surged beyond some research houses' target prices following the re...

   KUALA LUMPUR (Nov 18): The FBM KLCI fell 0.33% on Wednesday as local institutional investors took profit following two days of strong gains. According to remisier Jeffry Aziz, the sell-down in the benchmark index today was due to healthy correction with the local bourse experiencing a good run amid a switch from pandemic-themed plays to a recovery-focused theme given the positive sentiment from vaccine newsflow last week. He also attributed the weakness in the KLCI to the sell-off in blue chip stocks by the Employees Provident Fund (EPF), following the announcement that it is allowing eligible members to take an advance from their Account 1 under a scheme called i-Sinar starting December. At the closing bell, the local benchmark index was down 5.4 points at 1,604.75, after moving between 1,595.09 and 1,611.58. Market breadth was negative with losers thumping gainers 731 to 473, while 456 counters were unchanged. Trading volume narrowed to 14.41 billion compare...