KUALA LUMPUR, Aug 12 ― Bursa Malaysia opened slightly higher but retreated thereafter as profit-taking started to emerge in selected heavyweights following the recent gains, dealers said. At 9.28am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) declined 6.53 points to 1,497.91 from...
KUALA LUMPUR, Aug 12 ― Bursa Malaysia opened slightly higher but retreated thereafter as profit-taking started to emerge in selected heavyweights following the recent gains, dealers said.
“We reckon follow-through buying interest would be seen in the glove manufacturer counters on the back of the current Covid-19 situation in Malaysia as well as the Malaysian Rubber Council’s projection on gloves demand growth on the global front. The MRC projected a double-digit growth in 2021 in terms of demand for rubber gloves, while the crude palm oil price jumped above RM4,500 per tonne after the end-July palm oil stocks slumped due to delayed harvesting amid labour shortages.
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