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apple developer(buyappleacc.com):FBM KLCI continues to slip, glove stocks under pressure

admin2021-09-1410

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,KUALA LUMPUR: Malaysian equities prices accelerated their decline in early trade to enter the lunch break firmly in the red.As investor sentiment continued to slip, market breadth was negative at with 666 declienrs versus 276 gainers.The benchmark FBM KLCI was down 10.83 points to 1,565.14.Bursa Malaysia is experiencing a weak start amid analyst predictions of sideways trading with a downside bias over the coming days.Coupled with the sluggish effects of a holiday-shortened week, investors could be seen staying on the sidelines.Top Glove was the leading laggard of the day, having slid 13 sen to RM3.30 despite recent news that the US authorities had revoked a ban on its imports.Hartalega also reflected the weak sentiment in the sector, sliding 14 sen to RM6.25.Meanwhile, Petronas Dagangan lost 48 sen to RM19.52 while IHH dropped six sen to RM6.54.Financial stocks were mostly firm with Maybank up two sne to RM8.31, Public Bank gaining two sen to RM4.40 and Hong Leong Bank adding two sen to RM18.82. CIMB fell three sen to RM4.82.Most active counters were KNM down two sen to 28 sen, Pasukhas up 0.5 sen to 11.5 sne and PUC falling one sen to 15 sen.A raft of US and Chinese economic data are scheduled for release later this week, putting downward pressure on Asian markets.Japan's Nikkei fell back 0.25% after a storng rally in the previous amid hopes for fresh stimulus from a new Prime Minister.South Korea's Kospi was down 0.2%, while in China, the main index was up 0.1% and Hong Kong's Hang Seng dove 2% on reports that Beijing plans to break up Ant Group's Alipay.Australia's ASX200 was up 0.1%.
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