KLCI crosses 1,600-point threshold in line with regional gains, glove makers dip on profit taking

KLCI crosses 1,600-point threshold in line with regional gains, glove makers dip on profit taking
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KUALA LUMPUR (July 15): The FBM KLCI rose in the mid-morning to cross the 1,600-point threshold in line with gains in regional markets, while shares in glove makers topped the losers list on a bout of profit taking, having scaled their respective all-time highs in recent days.

At 10am, the KLCI was 3.13 points higher at 1,601.88.

Gainers led losers by 364 to 322, while 378 counters traded unchanged. Trading volume was 1.92 billion shares valued at RM1.41 billion.

The gainers included Supermax-C81, Pharmaniaga Bhd, Duopharma Biotech Bhd, Nestle (Malaysia) Bhd, Hong Leong Bank Bhd, Hap Seng Consolidated Bhd, PPB Group Bhd, Petronas Gas Bhd, Genting Plantations Bhd and Fraser & Neave Holdings Bhd.

The actively traded stocks included newly-listed Reservoir Link Energy Bhd, PDZ Holdings Bhd, Eduspec Holdings Bhd, Careplus Group Bhd, Comfort Gloves Bhd and Vsolar Group Bhd.

The top losers included Hartalega Holdings Bhd, Top Glove Corp Bhd, Kossan Rubber Industries Bhd, Supermax-C82, Supermax Corp Bhd, Supermax-C80, Supermax-C83, Supermax-C77, Hartalega-C37 and Hartalega-C34.

Bloomberg said Asian stocks and US equity futures climbed today amid optimism that progress is being made in developing a defence against the coronavirus.

The US dollar retreated, it said.

JF Apex Securities Research said US markets rose overnight following corporate results and developments of a coronavirus vaccine.

It said that earlier, European stocks tumbled as rising coronavirus cases affected investor sentiment.

“On the local bourse, the FBM KLCI declined 7.68 points to 1,598.75 points after failing to breach the resistance at 1,615 points.

“Following the mixed performances in the US and Europe, the FBM KLCI could hover sideways below the resistance at 1,615 points,” it said.