Thursday 28 Mar 2024
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KUALA LUMPUR (May 20): The FBM KLCI extended its losses today as sentiments remained fragile amid news that the Government was mulling over a full lockdown to tackle the rising cases of Covid-19.

Malaysia hit another record high 6,806 new infections today, up from yesterday’s 6,075, with Selangor accounting for 2,277 cases. The Government is set to deliberate on whether a stricter lockdown should be imposed under the current Movement Control Order (MCO 3.0) at a National Security Council meeting tomorrow.

The KLCI fell 0.33% or 5.2 points to settle at 1,575.32, a near two-month low, after moving between 1,570.32 and 1,585.32.

All but two of Bursa Malaysia's indices closed lower, the exceptions being the plantation index (up 0.14% at 6,918.31 ) and  financial services index (up 0.02% at 14,875.66).

Malacca Securities Sdn Bhd head of research Loui Low said the continued rise in Covid-19 cases in the country was spooking investors who had hoped for a speedy economic recovery.

“The market sentiment remains weak, reflecting investors’ worries that the virus outbreak may weigh heavily on the prospects of the country's economy. The potential full lockdown also contributed to the overall decline in the local bourse,” he told The Edge.

Across Bursa Malaysia, losers beat gainers 832 to 287, while 394 counters were unchanged. A total of 6.74 billion shares worth RM4.47 billion were traded.

Heavyweights that fell the most in percentage terms included Supermax Corp Bhd (down 3.39% or 17 sen at RM4.85), Press Metal Aluminium Holdings Bhd (down 2.5% or 13 sen at RM5.07) and Maxis Bhd (down 2.14% or 10 sen at RM4.57).

Top losers by value included Malaysian Pacific Industries Bhd, Heineken (M) Bhd, ATA IMS Bhd, Transocean Holdings Bhd, Hengyuan Refining Co Bhd, Kossan RUbber Industries Bhd, Ann Joo Resources Bhd, Chin Teck Plantations Bhd and Nestle (M) Bhd.

Notable gainers included Batu Kawan Bhd, British American Tobacco (Malaysia) Bhd, Y&G Corp Bhd, Petronas Dagangan Bhd, Sedania Innovator Bhd, Widetech (M) Bhd, Kluang Rubber Co (M) Bhd, Fraser & Neave Holdings Bhd and Ayer Holdings Bhd.

The most actively traded stocks were Focus Dynamics Group Bhd, LKL International Bhd, Kanger International Bhd, Ucrest Bhd,Careplus Group Bhd, Hiap Teck Venture Bhd, Sasbadi Holdings Bhd and Adventa Bhd.

Reuters reported that Asian stocks continued to struggle, after a hint of tapering talk from the US Federal Reserve and a crash in cryptocurrencies.

Edited ByS Kanagaraju
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