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KLCI up as glove shares rise on bargain hunting; AMMB falls
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KUALA LUMPUR (Jan 26): Hartalega Holdings Bhd’s share price fell in Bursa Malaysia morning trade today on profit taking after climbing yesterday ahead of the rubber glove manufacturer’s quarterly financial results announcement, which showed a significant rise in net profit and revenue from a year earlier.
At 9.02am today, Hartalega’s share price was 20 sen or 1.54% lower at RM12.80.
At RM12.80, Hartalega had a market capitalisation of about RM43.9 billion.
In a Bursa filing yesterday, Hartalega said net profit rose to RM1 billion for the third quarter ended Dec 31, 2020 (3QFY21), from RM121.27 million a year earlier, while revenue climbed to RM2.13 billion from RM796.55 million.
KUALA LUMPUR (Jan 25): The FBM KLCI slumped below 1,600 points in Bursa Malaysia mid-morning trades today on profit taking as the number of decliners across the bourse significantly outpaced gainers at about 900 versus some 200 respectively.
At 11:40am, the 30-stock KLCI fell 3.61 points or 0.23% to 1,593.13 after rising to its intraday high so far today at 1,601.54. With momentum and trend indicators on the KLCI registering further deterioration following last week s corrective dip below the 1,600 level, further weakness should ensue, with weaker buying momentum and bargain hunting action likely to exert lower prices ahead. Any technical rebound attempts should be checked by selling on strength, until signs of improvement or stability on the local Covid-19 transmissions emerge,” TA Securities Holdings Bhd analysts wrote in a note today.
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