At 12.30pm, the FBM KLCI was down 3.67 points to 1,581.23.
Losers edged gainers by 369 to 364, while 687 counters traded unchanged. Trading volume was 3.39 billion shares valued at RM1.98 billion.
The top losers included Nestle (Malaysia) Bhd, Computer Forms (Malaysia) Bhd, Kuala Lumpur Kepong Bhd, Heineken Malaysia Bhd, KESM Industries Bhd, Fraser & Neave Holdings Bhd, Khind Holdings Bhd and Hong Leong Financial Group Bhd.
Index-linked glove makers Top Glove Corp Bhd, Supermax Corp Bhd and Hartalega Holdings Bhd also retreated.
The actively traded stocks included i-Stone Group Bhd, Luster Industries Bhd, Trive Property Group Bhd, QES Group Bhd, Iris Corp Bhd, Metronic Global Bhd and Aemulus Holdings Bhd.
BURSA Malaysia-listed companies have realised how important it is to be cash rich when faced with an unexpected and severe situation like the Covid-19 pandemic.
This is especially given the tough economic conditions the business community has had to weather in the past year, with lockdowns enforced in Malaysia and its major trading partners to contain the spread of the virus, bringing activities practically to a standstill.
Many companies built up their cash positions in 2020 in anticipation of the severe economic downturn due to Covid-19, notes private investor and former investment banker Ian Yoong.
“Larger listed companies issued bonds and other fixed-income securities. It is a natural response to be conservative in the face of an impending severe economic downturn,” he says.
KUALA LUMPUR (Feb 3): The main index of Bursa Malaysia had pared some its gains at the midday break today as index-linked glove makers ranked among the decliners, while regional bourses rallied.
At 12.30pm, the FBM KLCI was up 5.53 points at 1,586.02. The index earlier rose to a high of 1,593.46.
Gainers led losers by 624 to 410, while 419 counters traded unchanged. Trading volume was 3.16 billion shares valued at RM2.34 billion.
The gainers included Malaysian Pacific Industries Bhd, UWC Bhd, ViTrox Corp Bhd, Nestle (Malaysia) Bhd, Greatech Technology Bhd, KESM Industries Bhd, Mi Technovation Bhd, Pentamaster Corp Bhd and Toyo Ventures Holdings Bhd.
The actively traded stocks included Iris Corp Bhd. Greatech, Dagang NeXchange Bhd (DNeX), QES Group Bhd and Vizione Holdings Bhd.
KUALA LUMPUR (Feb 2): The main index at Bursa Malaysia got into consolidation mode in the morning trade session Tuesday and pared some of its gains at midday break, against the backdrop of firmer regional markets.
At 12.30pm, the FBM KLCI was up 12.07 points to 1,578.47. The index had earlier risen to a high of 1,585.18.
Losers overtook gainers by 541 to 527, while 422 counters traded unchanged. Trading volume was 3.97 billion shares valued at RM2.64 billion.
The gainers included Kuala Lumpur Kepong Bhd, Petronas Dagangan Bhd, Frontken Corp Bhd, Hengyuan Refining Company Bhd, Hartalega Holdings Bhd, Nestle (M) Bhd and Tasco Bhd.
The actively traded stocks included Iris Corp Bhd, Trive Property Group Bhd, EA Holdings Bhd, GPAS Holdings Bhd, AT Systematization Bhd and QES Group Bhd.