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KUALA LUMPUR: The FBM KLCI retraced its earlier gains to end the morning session on a flat note, reflecting the growing caution over equities prices following the recent rally.

At 12.30pm, the country’s benchmark index was down 0.24 point to 1,581.95.

The domestic market has been struggling to make headway in recent days after turning bullish on the back of an easing of economic restrictions.

While financial counters and other recovery plays held firm, Top Glove was seen dragging on the FBM KLCI.

The world’s largest rubber glove manufacturer dropped 12 sen to RM3.74 while sector peer Hartalega slid 13 sen to RM6.95 amid concerns over shrinking demand prospects.

Axiata was also seen sliding given sen to RM4.05 although Maxis rose seven sen to RM4.56 and Digi added RM4.42.

Maybank gained five sne to RM8.32, Public Bank rose two sen to Rm4.09 while CIMB climbed three sen to RM4.94. Hong Leong Bank went the other direction, losing 16 sen to RM19.

Among top actives on the broader market, KNM was up one sen to 28.5 sen, Serba Dinamik lost 0.5 sen to 40.5 sen and Sapura Energy was up 0.5 sen to 12.5 sen.

In Asian markets, equities were mixed as investors were guided by fresh records on Wall Street overnight but remained cautious ahead of US employment data due out later today.

Japan’s Nikkei was up 1.8% while South Korea’s Kospi rose 0.7%.

China’s main index however was down 0.15% and Hong Kong’s Hang Seng slid 0.5%. Australia’s ASX200 was up 0.4%.



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