Friday 29 Mar 2024
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KUALA LUMPUR (July 22): The FBM KLCI dipped 0.03% at the midday break as index-linked glove makers fell, while shares in pharmaceutical companies Pharmaniaga Bhd and Duopharma Biotech Bhd saw their share prices soar as hopes of a Covid-19 vaccine buoyed world market sentiment.

At 12.30pm, the FBM KLCI shed 0.43 points to 1,595.50.

Gainers edged losers by 365 to 308, while 664 counters traded unchanged. Trading volume was 5.41 billion shares valued at RM2.79 billion.

The top losers included Hartalega Holdings Bhd, Kossan Rubber Industries Bhd, Nestle (M) Bhd, Supermax Corp Bhd, British American Tobacco (M) Bhd, Dutch Lady Milk Industries Bhd, Malaysian Pacific Industries Bhd and Panasonic Manufacturing Malaysia Bhd.

The actively traded stocks included Sapura Energy Bhd, Lambo Group Bhd, Vortex Consolidated Bhd, Ocean Vantage Holdings Bhd, Velesto Energy Bhd, Boustead Holdings Bhd and Notion Vtec Holdings Bhd.

The top gainers included Pharmaniaga, Apex Healthcare Bhd, Duopharma, YSP Southeast Asia Holding Bhd, Greatech Technology Bhd, Ajinomoto (M) Bhd and JF Technology Bhd.

Reuters said the euro stood at an 18-month high, silver soared and commodities forged ahead on Wednesday, as economic recovery hopes drove bets on rebounding world demand and a falling US dollar.

Stock markets in Asia ground higher, except in Australia where a surge in coronavirus infections put pressure on bank and travel shares and the benchmark index fell 1%. S&P 500 stock futures advanced 0.4% in line with the relatively positive mood, it said.

JF Apex Securities Research said US markets were mixed with the Dow and S&P rising but the Nasdaq declined amid corporate earnings.

It said European stocks advanced after EU leaders agreed on a €750 billion coronavirus recovery fund.

“On the local market, the FBM KLCI rose 6.48 points to 1,595.93 points.

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

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