Rude start for May as KLCI tumbles more than 25pts

KUALA LUMPUR: Blue chips tumbled early Wednesday, setting a torrid start for May as the FBM KLCI fell below the key 1,850 level on selling of Nestle, banks and Petronas-linked stocks as investors turned more cautious ahead of the 14th General Election on May 9. 

At 9.30am, the KLCI was down 25.08 points or 1.34% to 1,845.29. Turnover was 375.15 million shares valued at RM200mil. There were 113 gainers, 300 losers and 173 counters unchanged.

Nestle fell the most, down RM5.60 to RM132.40 while Carlsberg lost 30 sen to RM18.70 but F&N added 54 sen to RM36.50.

HLFG fell 36 sen to RM19.12, Hong  Leong Bank 32 sen lower at RM18.68 and CIMB 23 sen to RM6.97.

Petronas Dagangan was down 32 sen to RM26.68 and Petronas Gas lost 22 sen to RM17.60.

KL Kepong  skidded 42 sen to RM25.06, Hap Seng 27 sen to  RM9.53 and IJM 18 sen lower  at RM2.80.

However, MAHB rose 10 sen to RM9.11 and Top Glove gained five sen to RM9.56.