Coronavirus fears infect markets, commodities

  • Markets
  • Tuesday, 28 Jan 2020

The FBM KLCI fell 18.23 points or 1.16% to 1,554.58 – after briefly falling below the 1,550 level – to the lowest since October 2019.

KUALA LUMPUR: Key Asian markets including Bursa Malaysia fell on Tuesday as growing worries about the spread of the coronavirus from China to several countries spooked investors.

The FBM KLCI fell 18.23 points or 1.16% to 1,554.58 – after briefly falling below the 1,550 level – to the lowest since October 2019.

Turnover was 2.09 billion shares valued at RM1.55bil. Decliners hammered advancers more than 5.5 to one. There were 807 losers to 145 gainers and 182 counters unchanged.

Among the markets which were opened, South Korea's Kospi tumbled 3.2%, Singapore's STI skidded 2.59%, and Japan's Nikkei 225 0.87%.

Reuters reported the coronavirus has spread to more than 10 countries as the death toll in China rose rapidly to 106 from 81 a day earlier.

Oil futures fell for a sixth session as the spread of the coronavirus raised concerns about a hit to economic growth and oil demand, Reuters reported. Brent crude was down 10 cents to US$53.04 and Brent 19 cents to US$59.13.

Petronas Chemicals fell 29 sen to RM6.63 and wiped ut 3.55 points, Petronas Gas 14 sen lower at RM16.26 and Petronas Dagangan 52 sen to RM22.62. Diaog fell three sen to RM3.26.

Palm oil futures plunged on concerns about a fall in demand. CPO for April delivery tumbled RM166 to RM2,695.

Sime Plantation 23 sen to RM5.05 and wiped out 2.42 points, IOI Corp lost nine sen to RM4.49, KL Kepong eight sen to RM23.38 while PPB Group was flat at RM18.62.

Consumer stocks fell the most, Nestle down RM1.30 to RM144.80, F&N 98 sen to RM32.02, Carlsberg 88 sen to RM31.12, BAT 82 sen to RM10.32, Dutch Lady 80 sen to RM41.20, Heineken 58 sen to RM26.90.

As for banks, Public Bank lost 26 sen to RM18.92 and erased 1.54 points, Hong Leong Bank 22 sen to RM15.92, Maybank and CIMB four sen each to RM8.49 and RM5.02.

Tenaga fell 18 sen to RM12.70 and erased 1.56 points, Genting 21 sen to RM5.61 and GentingM nine sen to RM3.06.

MAHB tumbled 47 sen to RM6.36 as the coronavirus outbreak would impact air travel. However, IHH rose 11 sen to RM5.90 and pushed the index up by 1.47 points.

Glove makers rallied with Top Glove up 46 sen to RM6, Hartalega 30 sen to RM6.33, Kossan 27 sen to RM5.02, Supermax 22 sen to RM1.83, Adventa 16.5 sen to 77 sen and Careplus 13 sen to 36.5 sen.

The ringgit weakened 0.6% against the US dollar to 4.0837.

Spot gold lost US$2.34 to US$1,579.72 a troy ounce.

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coronavirus , outbreak , death toll


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