Tenaga closes lower, glove makers extend gains

  • Markets
  • Friday, 24 Apr 2020

market down

KUALA LUMPUR: Bursa Malaysia and key Asian markets ended Friday lower as concerns about the widening impact of the Covid-19 pandemic continued to weigh on investor confidence as a vaccine was still elusive.

At 5pm, the FBM KLCI was down 11.79 points or 0.85% to 1,369.85. Turnover was 3.69 billion shares valued at RM2.49bil. The broader was mixed with 445 gainers, 400 losers and 365 counters unchanged.

Among the KLCI stocks, Petronas Dagangan fell 50 sen to RM20.30, MAHB 19 sen to RM5.10, MISC 18 sen to RM7.80, Digi and Tenaga 14 sen lower at RM4.36 and RM12.16.

Consumer stocks extended their losses with Heineken down 72 sen to RM23.80, Nestle 60 sen to RM138.40 and Carlsberg 58 sen to RM27.92 but Dutch Lady was the top gainer, up 66 sen to RM47.96. Ajinomoto added 10 sen to RM13.90.

Glove makers were the stars of the day due to the pandemic, Top Glove gained 27 sen to RM7.17, Adventa jumped 20.5 sen to 91.5 sen, Kossan 15 sen to RM5.60 and Supermax 13 sen to RM1.03.

Reuters reported Chinese shares fell and ended the week lower amid lingering coronavirus worries, but losses were limited as Beijing pledged more support to shore up the world's second- largest economy.

The blue-chip CSI300 index fell 0.9% to 3,796.97, while the Shanghai Composite Index dropped 1.1% to 2,808.53.

Japan’s Nikkei share average closed 0.86% lower at 19,262.00, with a weekly loss of 3.2%.

Hong Kong’s Hang Seng index fell 0.6%, to 23,831.33, while the China Enterprises Index lost 0.5%, to 9,656.19 points.

Meanwhile, global shares fell on Friday, spurred by delays to an agreement on divisive details of the European Union's stimulus package and doubts about progress in the development of drugs to treat Covid-19.

Reuters reported oil prices fell on Friday and headed for their third weekly loss running as production shutdowns failed to keep pace with sliding demand due to the coronavirus crisis.

Brent crude was down 73 cents, or 3.42%, at US$20.60 and US oil fell by 84 cents, or 5.09%, to US$15.66 a barrel, having surged 20% in the previous session.

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