KUALA LUMPUR (Aug 19): The FBM KLCI gave up earlier gains to close slightly lower today on profit-taking, against the backdrop of mixed regional markets. 

The key index closed 2.47 points or 0.16% lower at 1,575.38. After coming down in the morning, it recovered in the afternoon only to retreat again towards the close.

The market breadth was more positive, as gainers outpaced decliners by 589 to 411. 

Rakuten Trade Research vice president Vincent Lau said investors took some cash off the table, especially in some rubber glove counters, following yesterday’s strong rally.

Hartalega Holdings Bhd, which jumped 12.85%, gave up some of its gains yesterday, closing 36 sen or 2.05% lower at RM17.2. It was among the day’s top losers on Bursa Malaysia. 

Top Glove Corp Bhd closed up 4.06% or RM1.06 at RM27.14 in volatile trading. It had fallen to as low as RM25.54 earlier in the day.

Supermax also went down by 5% to RM19.76, before rebounding to close 0.67% or 14 sen higher at RM20.94. 

Kossan Rubber Industries Bhd recovered from a low of RM14.92 to close at RM16.26, 1.63% or 26 sen higher than yesterday. 

Across Bursa Malaysia, 8.56 billion shares valued at RM7.01 billion exchanged hands, lower than the 10.6 billion shares worth RM6.92 billion that were transacted yesterday. 

Overnight on Wall Street, the S&P 500 erased its coronavirus losses as it rose to an all-time high. The broader market index advanced 0.2% to 3,389.78, a record close. It also touched an intraday all-time high of 3,395.06 earlier in the trading day.

The Nasdaq Composite also hit a record, closing 0.7% up at 11,210.84. The Dow Jones Industrial Average, however, finished 66.84 points or 0.2% down. 

Meanwhile, Reuters reported a gauge of Asian shares eased today, led by losses in Chinese and Hong Kong stocks, though it was still near a seven-month peak, driven by ever expanding policy stimulus aimed at cushioning the blow from the coronavirus pandemic.