Bursa closes lower as govt imposes curbs to check Covid-19

KUALA LUMPUR: Bursa Malaysia stayed in the red the whole of Monday as investors worried about the impact of fresh curbs imposed by the government to curb the spread of the Covid-19.

At 5pm, the KLCI was down 11.92 points or 0.78% to 1,518.43. Turnover was 5.97 billion shares valued at RM3.82bil. There were 498 gainers, 573 losers and 400 counters unchanged.

In late afternoon, Datuk Seri Ismail Sabri Yaakob announced that Selangor, Kuala Lumpur and Putrajaya will be placed under the conditional movement control order (MCO) from this Wednesday until Oct 27.

Under the CMCO, most industries will be allowed to operate normally but schools, daycares, places of worship, parks, sporting activities, social activities, weddings and entertainment outlets are off-limits. However, inter-district travel is only allowed for work purposes with proper identification issued by employers.

After market close, the Health Ministry announced 563 new cases and two deaths. Sabah reported 291 new cases,Penang reported 141 cases,Selangor 69 cases and Kuala Lumpir 28 cases.

On the global front, more than 37.42 million people have been reported to be infected by the novel coronavirus globally and 1,074,688​ have died, according to a Reuters tally.

At Bursa, Consumer stocks bore the brunt as Nestle fell the most, down RM1.10 to RM139.10, F&N 70 sen to RM32.30, Carlsberg 20 sen to RM19.70 and Heineken 18 sen to RM20.58.

Among the banks, Public Bank ended the day down 32 sen to RM16.14, HL Bank 10 sen to RM15, CIMB six sen to RM3.10 and Maybank five sen to RM7.35

Power giant Tenaga fell 20 sen to RM10.20, Genting nine sen to RM3.16 and GentingM four sen to RM2.06.

Pharmaniaga was the top gainer, up 50 sen to RM5.19 while Duopharma added 17 sen to RM3.62.

Among the glove makers, Supermax added 42 sen to RM9.96, Rubberex 39 sen to RM6.48, Kossan 22 sen to RM7.45 and Top Glove 16 sen to RM8.97.

On the external front, Hong Kong stocks tracked gains on the mainland, with the Hang Seng China Enterprises index posting its best day in three months, as investors cheered Beijing's latest policy support for its capital markets, Reuters reported.

Shanghai’s Composite rallied 2.64%, Hong Kong’s Hang Seng Index 2.2%, South Korea’s Kospi 0.49% and Singapore’s STI up 0.77%. Japan’s Nikkei 225 fell 0.26%,

US light crude oil fell 71 cents to US$39.89 and Brent 64 cents lower at US$42.21.

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