Saturday, 12 Sep 2020 10:14 AM MYT
Rakuten Trade Sdn Bhd research vice-president Vincent Low said given that the glove counters, particularly Top Glove and Hartalega, had been oversold over the past week due to heavy profit-taking, bargain-hunting was likely to continue next week. “Previously, we saw the market was overbought with overwhelming trading volume which touched an all-time high of 27.8 billion on Aug 11, 2020. Therefore, the current correction is necessary to ‘cool down’ the market,” he said, adding that the trading volume could surpass Aug 11’s peak due to the strong liquidity in the Malaysian market.
On a Friday-to-Friday basis, the FBM KLCI ended 11.01 points easier at 1,504.85 compared with 1,515.86 previously. Weekly turnover narrowed to 32.89 billion units valued at RM24.87 billion from 38.44 billion units valued at RM20.48 billion last week.
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Bursa Malaysia opens lower on overnight Wall Street weakness, glove counters stage rebound | Malay MailKUALA LUMPUR, Sept 11 ― Bursa Malaysia extended yesterday's losses to open on a negative note today, as the US stock benchmarks finished lower yesterday after a volatile session. However, rubber glove counters regained their recent lost ground by emerging as top gainers across the board. At...
Source: malaymail - 🏆 1. / 86 Read more »
Top Glove, Hartalega lift Bursa Malaysia higher at mid-day | Malay MailKUALA LUMPUR, Sept 11 ― Bursa Malaysia ended the morning session on a firm note, mainly lifted by Top Glove and Hartalega as bargain-hunting in the two counters emerged after a recent sell-off. Across the board, the second-tier glove counters also made a comeback and lifted the Healthcare Index...
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Bursa Malaysia firmer at mid-morning | Malay MailKUALA LUMPUR, Sept 11 ― Bursa Malaysia was traded in the black at mid-morning, with the strong support of the healthcare index, swinging from yesterday's losses. This was after the healthcare Index staged a strong rebound as it increased 6.68 per cent to 3,355.46, driven by strong uptake in the...
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Another tough day for Bursa, Tenaga weighsKUALA LUMPUR: Bursa Malaysia got off Friday on a weak note as investor sentiment was impacted by the overnight fall on Wall Street again, with Tenaga Nasional weighing on the FBM KLCI.
Source: staronline - 🏆 4. / 75 Read more »
Top Glove, Hartalega lead Bursa Malaysia’s fall at mid-morning | Malay MailKUALA LUMPUR, Sept 10 ― Bursa Malaysia reversed its earlier gains to trade lower at mid-morning, weighed down by selling pressure in heavyweights, led by Top Glove and Hartalega. The two counters are also among the top losers on the broader market. Top Glove slipped below RM7.00 after giving up...
Source: malaymail - 🏆 1. / 86 Read more »
Top Glove, Hartalega lead Bursa Malaysia’s fall at mid-morning | Malay MailKUALA LUMPUR, Sept 10 ― Bursa Malaysia reversed its earlier gains to trade lower at mid-morning, weighed down by selling pressure in heavyweights, led by Top Glove and Hartalega. The two counters are also among the top losers on the broader market. Top Glove slipped below RM7.00 after giving up...
Source: malaymail - 🏆 1. / 86 Read more »