BURSA Malaysia ended broadly lower with the key index finishing 0.13% easier, weighed down by selling in selected heavyweights led by Top Glove Corporation Bhd.
At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 2.09 points to 1,609.19 from Monday’s close of 1,611.28.
The index opened 5.13 points lower at 1,606.15 and moved between 1,601.08 and 1,610.61 throughout the day.
On the broader market, losers thumped gainers 649 to 414, while 441 counters were unchanged, 695 untraded and 93 others suspended.
Total volume eased to 5.78 billion shares valued at RM3.59 bil from Monday’s 6.71 billion shares valued at RM3.58 bil.
Bank Islam Malaysia Bhd economist Adam Mohamed Rahim said the local bourse was dragged down by Top Glove, which dropped by more than 5%.
Top Glove shares sank due to the US Customs and Border Protection’s directive to its personnel at all US ports of entry to begin seizing disposable gloves produced in Malaysia by the glove manufacturer over forced labour allegations.
Top Glove dipped 27 sen or 5.35% to RM4.78, with 68.15 million units changing hands.
Meanwhile, most regional markets were traded higher today, with Japan’s Nikkei 225 rising 0.16% to 29,432.70, Hong Kong’s Hang Seng Index advanced 0.84% to 28,577.50, and Singapore’s Straits Times Index went up 0.61% to 3,194.80.
“(Regional markets such as) Hong Kong and Japan are all in the green (territory) today in contrast with Malaysia, so possible bottom fishing activities could occur tomorrow, which could push the FBM KLCI higher,” Adam told Bernama.
On other heavyweights, Malayan Banking Bhd rose two sen to RM8.40, Public Bank Bhd gained five sen to RM4.28, Tenaga Nasional Bhd climbed six sen to RM10.40, IHH Healthcare Bhd surged 13 sen to RM5.43, CIMB Group Holdings Bhd added two sen to RM4.46, Petronas Chemicals Group Bhd was flat at RM8.10, and Axiata Group Bhd trimmed six sen to RM3.79.
As for active counters, Berjaya Corporation Bhd expanded six sen to 39.5 sen, Dagang NeXchange Bhd went up two sen to 90.5 sen, Permaju Industries Bhd bagged one sen to 19 sen, ACE market debutant Flexidynamic Holdings Bhd jumped 23 sen to 43 sen, Widad Group Bhd shed seven sen to 58.5 sen, and Macpie Bhd trimmed 9.5 sen to 21 sen. – March 30, 2021
