KUALA LUMPUR, July 24 — Bursa Malaysia ended lower across board today as the market pull back wiped out yesterday’s gains. At the close today, market benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) declined 16.81 points or 1.05 per cent to 1,589.61 as heavy profit-taking was seen in 24 out of 30...
An investor monitors the stock prices in the gallery of the RHB Investment Bank Bhd headquarters in Kuala Lumpur March 17, 2020. ― Picture by Hari Anggara
On the overall market, the number of counters that fell stood at 718, far leaving behind gainers totalling 383, while 371 counters were unchanged, 528 untraded and 16 others suspended.Volume meanwhile shrank to 9.88 billion units worth RM5.18 billion from yesterday’s 12.12 billion units worth RM6.65 billion.
“With vaccine optimism now lowered following the announcement that the vaccine would not be available till next year, investors had pulled out from the market and reassess their valuation,” she said. However, the analyst said that due to the strong demand from the glove sector which has driven the market higher, an inverse hammer pattern was seen throughout the market trend.
Among the actives, Nexgram was still in favour, rising 1.5 sen to six sen, backed by the launch of its Covid-19 project with the Malaysian Tourism Council and the contract to sell personal protective equipment in Indonesia. Main Market volume declined to 4.06 billion shares worth RM3.59 billion from yesterday’s 4.24 billion shares valued at RM4.21 billion.
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