KUALA LUMPUR, Dec 10 — A not-so-rosy picture for glove makers’ prospects put a dent on the market as Top Glove and Hartalega dragged down Bursa Malaysia to end at its intraday low Friday.
Normalised average selling price and demand following mass vaccine rollout on a global scale has put a pressure on Top Glove’s earnings for the first quarter of financial year 2022 . Thong said investors were awaiting the US inflation data to be released Friday which might influence the Federal Reserve’s decision on when to roll back economic stimulus.
CIMB and Axiata dipped six sen each to RM5.18 and RM3.78 respectively, while Petronas Gas and Petronas Chemicals eased four sen each to RM16.46 and RM8.42 respectively. On the index board, the FBM Emas Index dipped 92.04 points to 10,859.79, the FBMT 100 Index slipped 93.01 points to 10,561.57, and the FBM Emas Shariah Index declined 127.14 points to 11,714.25.Sector-wise, the Industrial Products and Services Index shed 1.03 points to 193.30, the Financial Services Index dropped 55.80 points to 15,109.33, while the Plantation Index eased 28.51 points to 6,466.49.
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