Bursa snaps recent rally, tracks key markets lower


  • Markets
  • Monday, 30 Mar 2020

KUALA LUMPUR: Bursa Malaysia closed lower on Monday, snapping last week’s rally, in line with key Asian markets as investors worried about more countries imposing lockdowns, rising death toll while no end was in sight for a Covid-19 vaccine.

At 5pm, the FBM KLCI was down 14.21 points or 1.06% to 1,328.88. Turnover fell to 2.83 billion shares valued at RM1.86bil. There were 305 gainers, 511 losers and 302 counters unchanged.

The recent rebound was fuelled by local institution buying which absorbed the selling pressure by foreign funds and profit taking by retail investors.

Among the consumer stocks, it was Dutch Lady which was the top loser, down 84 sen to RM42.04, Carlsberg fell 72 sen to RM24.90, Ajinomoto 28 sen lower to RM12.70 but F&N was the top gainer, up 44 sen to RM30.52.

Weighing on the KLCI was Hong Leong Bank, which fell 78 sen to RM13.42 and erased 2.58 points from the KLCI, Maybank was down six sen to RM7.31, Public Bank eight sen to RM15.82 and CIMB six sen to RM3.51.

Tenaga Nasional rose 10 sen to RM11.80 but IHH Healthcare fell 11 sen to RM5.15.

Maxis rose 13 sen to RM5.50 and nudged the KLCI up 1.55 points higher but Axiata lost 16 sen to RM3.22 and erased 2.24 points. Digi edged up one sen to RM4.40.

As for plantations, KL Kepong tumbled 48 sen to RM20.10while PPB Group gave up 12 sen to RM16.40, Sime Darby Plantation slipped five sen to RM4.65 and IOI Corp three sen to RM3.87.

Among the gainers, SCGM rose 30 sen to RM1.37, Kluang 23 sen to RM2.95, HLFG 20 sen to RM13.80 and QL Resources 18 sen to RM7.28. Greatec jumped 17 sen to RM2.07.

Reuters reported China stocks ended lower as investor concerns over coronavirus-driven global shutdowns overshadowed an unexpected rate cut by the country's central bank.

At the close, the Shanghai Composite index was down 0.9% at 2,747.21 while the blue-chip CSI300 index was down 0.97%.

In Hong Kong, the Hang Seng index was down 1.32%, at 23,175.11. The Hang Seng China Enterprises index fell 1.08% to 9,402.17.

Reuters also reported UK shares slipped as another wave of stimulus measures failed to calm investors worried by the possibility of a prolonged coronavirus-led shutdown in Britain.

The internationally focused FTSE 100 index slipped 1.7%, with shares in aerospace suppliers Rolls-Royce, Meggitt and Senior plunging between 13% and 15% after another bearish call from JPMorgan.

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KLCI , profit taking , vaccine

   

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