KUALA LUMPUR (Feb 5): The main index of Bursa Malaysia reversed its earlier gains and dipped in the mid-morning as glove makers and plantation stocks dragged against a backdrop of mixed regional markets.
At 10am, the FBM KLCI had fallen 2.82 points to 1,582.08. The index earlier rose to a high of 1,590.47.
Gainers edged losers by 399 to 361, while 415 counters traded unchanged. Trading volume was 1.56 billion shares valued at RM850.08 million.
The decliners included Nestle (Malaysia) Bhd, Kuala Lumpur Kepong Bhd (KLK), Supermax Corp Bhd, Unisem (M) Bhd, Top Glove Corp Bhd, PPB Group Bhd, United Plantations Bhd and Batu Kawan Bhd.
The actively traded stocks included i-Stone Group Bhd, Trive Property Group Bhd, Luster Industries Bhd, QES Group Bhd, Iris Corp Bhd and Fintec Global Bhd.
As at 10.32am, the Bursa Malaysia Technology Index had risen 0.98 point or 1.15% to 86.02 points.
Among the top gainers on Bursa were Malaysian Pacific Industries Bhd (MPI), Genetec Technology Bhd, UWC Bhd, KESM Industries Bhd and ViTrox Corp Bhd.
Four counters reached a new peak this morning. They were MPI, Genetec, UWC and ViTrox.
Leading the pack, MPI rose 3.39% or RM1.22 to a fresh peak of RM37.16, bringing its market capitalisation up to RM7.8 billion, making it the top gainer across Bursa. It had seen some 192,800 shares traded.
Year to date (YTD), MPI had gained 43.14% from when it was trading at RM25.96 apiece.
KUALA LUMPUR (Feb 4): The main index of Bursa Malaysia reversed its earlier loss and climbed in the mid-morning today, but gains were seen capped against a backdrop of lacklustre regional markets.
At 10am, the FBM KLCI had risen 1.61 points to 1,584.60. The index earlier slipped to a low of 1,581.36.
Gainers led losers by 469 to 282, while 397 counters traded unchanged. Trading volume was 1.6 billion shares valued at RM884.42 million.
The top gainers included Malaysian Pacific Industries Bhd, See Hup Consolidated Bhd, Kobay Technology Bhd, Genetec Technology Bhd, ViTrox Corp Bhd and Khind Holdings Bhd.
The actively traded stocks included Luster Industries Bhd, KNM Group Bhd, Sanichi Technology Bhd, Dagang NeXchange Bhd (DNeX), AbleGroup Bhd, Iris Corp Bhd and PA Resources 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 4): The main index of Bursa Malaysia reversed its gains and slipped before the midday break today, in line with weaker regional markets, as glove makers retreated.
At 12.30pm, the FBM KLCI had dropped four points to 1,578.99. The index earlier rose to a high of 1,586.55.
Gainers edged losers by 379 to 345, while 714 counters traded unchanged. Trading volume was 4.05 billion shares valued at RM2.17 billion.
The decliners included Top Glove Corp Bhd, Frontken Corp Bhd, Pentamaster Corp Bhd, Mi Technovation Bhd, Dufu Technology Corp Bhd, Supermax Corp Bhd, Kossan Rubber Industries Bhd, AEON Credit Service (M) Bhd and Kuala Lumpur Kepong Bhd (KLK).