KLCI retreats on political issues, Covid-19 woes

KUALA LUMPUR: Blue chips closed lower on Wednesday amid investors’ concerns about the on-going political issues and the halt in the Covid-19 vaccine trials.

At 5pm, the KLCI was down 4.71 points or 0.31% to 1,520.49. Turnover was 7.03 billion shares valued at RM6.25bil. Advancers led decliners 572 to 495 and 414 counters were unchanged.

Selangor, Kuala Lumpur and Putrajaya came under the conditional Movement Control Order (CMCO) on Wednesday and it will stretch for two weeks due to the surge in the Covid-19 infections.

Meanwhile, on the political front, Umno announced on Tuesday night that the party would set new terms for continuing its political cooperation with Perikatan Nasional through a written agreement.

Its secretary-general Datuk Seri Ahmad Maslan was quoted saying Umno would consider withdrawing support for Perikatan if the conditions were not met.

At Bursa, consumer stocks were among the major losers. Nestle fell 60 sen to RM139.40, Heineken 48 sen to RM19.26, F&N 38 sen to RM33 while Carlsberg ended 24 sen lower at RM19.50.

Among oil and gas counters, Petronas Dagangan was down 12 sen to RM19.88, Petronas Chemicals eight sen to RM6.06 and Petronas Gas six sen to RM16.12. Dialog shed two sen to RM3.78.

As for financial stocks, HLFG fell the most, down 28 sen to RM14.30, Maybank 11 sen to RM7.24, RHB Bank nine sen to RM4.34, CIMB six sen to RM3.05, Ambank three sen to RM2.91 and Public Bank two sen to RM15.94.

KL Kepong fell the most among the plantations, down 30 sen to RM22.16, Genting Plantations 13 sen to RM9.71, Sime Plantation nine sen to RM4.91, IOI Corp three sen to RM4.45. However, PPB Group added 22 sen to RM19.48.

MAHB ended the day 17 sen lower at RM4.06 and MISC 15 sen to RM6.70. Tenaga closed 10 sen lower at RM10.08.

However, semicon stocks fared better with MPI chalking up a gain of 70 sen to close at RM19.91 while ES Ceramics surged 29.5 sen to 82 sen in active trade.

Glove makers were among the top gainers with Rubberex up 62 sen to RM8.02, Hartalega 58 sen to RM18.16, Kossan 47 sen to RM7.98, Top Glove 39 sen to RM9.48, Adventa 32 sen to RM2.92, Careplus 20 sen to RM3.92 and HLT 13 sen to RM1.86.

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