KUALA LUMPUR, Sept 15 — Bursa Malaysia retreated today as investors opted to book profit after yesterday’s rally.
At 9.10am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 4.57 lower at 1,506.79, dragged down by mainly Top Glove, which rallied more than 10 per cent yesterday.
The key index opened 1.00 points lower at 1,510.36 compared to yesterday’s close of 1,511.36.
On the broader market, market breadth was positive with gainers thumping losers 289 to 211, while 302 counters were unchanged, 1,247 untraded and 19 others suspended.
Total volume stood at 631.88 million shares worth RM481.19 million.
Malacca Securities sees bouts of quick profit-taking activities ahead of the mid-week break.
Bursa Malaysia will be closed tomorrow for the Malaysia Day celebration and resumes on Thursday.
“We continue to favour the healthcare sector as valuations have turned more compelling at current juncture.
“Meanwhile, the construction sector is also playing catch-up with the recovery across the broader market in view (of the fact) that contract flows to accelerate as we approach the final quarter of the year,” it said.
Overall, Malacca Securities said the market remained upbeat with investors continuing to seek for higher yields in the equity markets.
“Tracking the gains on Wall Street overnight, the positive momentum may spill over to the local bourse.
“Meanwhile, the robust trading sentiment will continue to see a rotational play on the table over the near term,” it added.
Of the heavyweights, Top Glove inched down 26 sen to RM8.32.
It was reported that a New Zealand supplier of personal protective equipment (PPE) has stopped the import of disposable gloves linked to Top Glove, following concerns about forced migrant labour.
Press Metal lost seven sen to RM5.15, MISC was two sen lower at RM7.60 and PetChem fell three sen to RM5.57.
In contrast, Hartalega continued uptrend, increasing 20 sen to RM13.20, Dialog rising three sen to RM3.71 and CIMB improving two sen to RM3.17.
Overall, the healthcare index was in positive territory, as the pharmaceutical counters recorded gains following Covid-19 vaccine optimism, despite a slew of glove-related counters were in the red.
Leading top gainers, Pharmaniaga and Duopharma rose 34 sen and 29 sen to RM4.83 and RM3.39, respectively.
In the red were Supermax which declined 42 sen to RM8.58, Rubberex which depreciated 27 sen to RM5.36 and Comfort Gloves which down 22 sen to RM4.15.
Of the actives, Ekovest reduced 1.5 sen to 59 sen, while Hiap Teck and Technodex improved two sen each to 24.5 sen and 16 sen, respectively.
On the index board, the FBM Emas Index fell 35.22 points to 10,839.03 and the FBM Emas Shariah Index was weaker by 52.59 points at 12,826.24.
The FBM 70 erased 57.76 points to 13,997.33, the FBMT 100 Index slid 35.22 points to 10,645.97, while the FBM ACE perked 56.81 points to 11,116.17.
Sector-wise, the Financial Services Index lost 0.92 of-a-point to 12,560.89, the Plantation Index improved 11.03 points to 7,046.09, while the Industrial Products and Services Index declined 0.29 of-a-point to 136.35. — Bernama