KUALA LUMPUR, Dec 29 — Bursa Malaysia ended the morning session in the red due to the lack of catalysts.
At lunch break, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) eased 6.16 points or 0.38 per cent to 1,637.74, after moving between 1,634.82 and 1,645.76 throughout the session.
The index opened 0.47 of-a-point higher at 1,644.37, compared to Monday’s closing of 1,643.9.
On the broader market, losers outpaced gainers 592 to 421, while 499 counters were unchanged, 616 untraded and 22 others suspended.
Volume stood at 5.12 billion units worth RM2.28 billion.
Axi chief global market strategist Stephen Innes said at the index level, the bourse is struggling because of the government’s plan to charge another glove maker for failing to provide proper accommodations for the workers.
“This is making the FBM KLCI a bit of an outlier, although there is another positive activity under the hood if you rule out the rubber glove makers’ supply chains.
“Things are trading well under the hood, with banks and oil and gas counters holding their own,” he told Bernama.
According to news reports, the government plans to file 30 charges against glove maker Brightway Holdings and two of its subsidiaries, after raids revealed that their workers' accommodation was not up to the minimum standards required.
Meanwhile, among the heavyweights, Maybank and Petronas Chemicals added one sen each to RM8.55 and RM7.50, respectively, while TNB gained two sen to RM10.60, IHH Healthcare rose three sen to RM5.75, Public Bank fell four sen to RM20.74, and Hong Leong Bank eased four sen to RM18.56.
Glove maker, Top Glove and Hartalega both trimmed 17 sen and 46 sen to RM6.09 and RM12, respectively.
Among the actives, Techna-X advanced three sen to 17 sen, Mestron appreciated two sen to 23.5 sen, Puncak Niaga jumped five sen to 45 sen, Kanger and Melewar both were flat at 14.5 sen and 58.5 sen, respectively, while Iris shed one sen to 43 sen and AT Systematization inched down half-a-sen to 19.5 sen.
On the index board, the FBM Emas Index slipped 42.06 points to 11,805.95, the FBMT 100 Index reduced 41.95 points to 11,558.7, the FBM Emas Shariah Index discounted 67.29 points to 13,188.46, the FBM 70 weakened 49.03 points to 15,148.46, while the FBM ACE strengthened 18.57 points to 10,698.36.
The Industrial Products and Services Index was flat at 177.15, the Plantation Index decreased 24.04 points to 7,406.61 and the Financial Services Index was 2.76 points higher at 15,431.05. — Bernama
