Bursa follows key Asian markets lower on Covid-19 worries


  • Markets
  • Friday, 21 Feb 2020

market open

KUALA LUMPUR: Blue chips slumped in early Friday trade as Bursa followed key Asian markets lower on concerns about the widening impact of the Covid-19 coronavirus.

At 9.21am, the FBM KLCI was down 5.08 points or 0.33% to 1,529.90. Turnover was 323.50 million shares valued at RM147.82mil. There were 158 gainers, 209 losers and 228 counters unchanged.

Hubei province saw 411 new cases as of Thursday, up from 349 a day earlier but still the lowest since Jan. 26. The death toll in Hubei rose by 115 to 2,144, mostly in the provincial capital of Wuhan, Reuters reported.

Meanwhile equities lagged, with MSCI's broadest index of Asia-Pacific shares outside Japan off 0.2%. South Korea slipped 0.8% as the virus spread in the country, while Japan's Nikkei edged up 0.1%.

At Bursa, foreign funds continued to reduce their stakes on Thursday with net selling at RM103.8mil while local institutions were net buyers at RM64.3mil and retail investors RM39.5mil.

Petronas Gas fell 18 sen to RM16.30, Pharmaniaga 16 sen to RM1.88, Tenaga 12 sen to RM12.66, MCement 11 sen to RM3.51 and KL Kepong eight sen to RM22.76.

Hong Leong Bank and Public Bank lost 12 sen each to RM15.26 and RM18 wheile HLFG was down eight sen to RM15.98.

BAT rebounded RM1.24 to RM13.94 on its dividend of 33 sen a share for the fourth quarter despite in fall in profit.

Carlsberg added 96 sen to RM39 and Heineken 16 sen to RM30.50 ahead of the release of their results on Friday.

Petronas Dagangan gained 22 sen to RM22.30, DKSH 16 sen to RFM2.98 and Top Glove nine sen RM5.39.

PPB Group lost 10 sen to RM18.22 and KL Kepong was down eight sen to RM22.76.

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KLCI , Covid-19 , foreign funds

   

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