Covid-19 worries persist, push KLCI into the red


Worries about the rising Covid-19 infections and the impact on the economy continued to weigh on the equities market. As at noon, there were 509 fresh infections, raising the total number to 18,129 cases so far.

KUALA LUMPUR: Worries about the rising Covid-19 infections and the impact on the economy continued to weigh on the equities market.

At 5pm, the FBM KLCI was down 9.3 points or 0.61% to 1,513.95. Turnover was 6.29 billion shares valued at RM4.74bil. There were 431 gainers, 593 losers and 446 counters unchanged.

Consumer stocks were mostly lower except for Nestle while engineering company Samadien ended its debut on the ACE Market off the day’s high.

The rising Covid-19 cases saw the government imposing the conditional movement control order (CMCO) in Selangor, Kuala Lumpur and Putrajaya since Wednesday.

As at noon, there were 509 fresh infections, raising the total number in the country to 18,129 cases so far.

Reuters reported China shares ended lower, erasing earlier gains after data showing falling factory gate prices and weak consumer inflation in September underscored persistent challenges facing the economy as it recovers from the pandemic.

At the close, the Shanghai Composite index was down 0.26% at 3,332.18. The blue-chip CSI300 index fell 0.17%.

Around the region, MSCI's Asia ex-Japan stock index was weaker by 0.2%, while Japan's Nikkei index closed down 0.51%, with sentiment hurt by a surge in global cases, elusive US stimulus and US-China tensions, according to Reuters.

At Bursa, F&N fell 60 sen to RM32.40, Carlsberg 36 sen to RM18.90, Heineken 24 sen to RM19.02 and Dutch Lady 18 sen to RM37.92. However, Nestle was the top gainer, up RM2.10 to RM141.50.

Samaiden rose to a high of RM1.12 in intra-day trade. It ended the day at 80.5 sen, up 32.5 sen from its offer price of 48 sen. It was actively traded with 155 million shares done.

Among the glove makers, there was a pullback as Rubberex lost 32 sen to RM7.70, Top Glove 14 sen to RM9.34, Hartalega and Supermax 10 sen each to RM18.06 and RM10.54.

Perstima ordinary rights shares slid 35 sen to RM1.69.

As for plantations, KL Kepong fell 26 sen to RM21.90, IOI Corp 13 sen to RM4.32 but PPB Group gained two sen to RM19.50 and Sime Plantation four sen to RM4.95.

Among the banks, Public Bank gained 16 sen to RM16.10, CIMB and RHB Bank were unchanged at RM3.05 and RM4.34 while Maybank shed three sen to RM7.21.

Oil prices fell as new restrictions to stem a surge in infections have increased uncertainty over the outlook for economic growth and a recovery in fuel demand.

Brent crude futures dropped 70 cents, or 1.6% to $42.62 a barrel at 0905 GMT, while U.S. West Texas Intermediate (WTI) crude futures were down 69 cents, or 1.7%, to $40.35.

Petronas Gas ended the day down 12 sen to RM16, Petronas Chemicals nine sen to RM5.97 while Petronas Dagangan lost six sen to RM19.82. Lotte Chemicals Titan rose 20 sen to RM2.55 in active trade.

VS Industry jumped 17 sen to RM2.50 on earnings upgrade by analysts. Scientex added 16 sen to RM11.50.

Advance Information Marketing surged 13.5 sen to 30.5 sen with 2.85 million shares done. It received a notice of conditional voluntary takeover offer from Datuk Chai Woon Chet, who intends to acquire all the shares in AIM at 13 sen each.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 18
Cxense type: free
User access status: 3

Samaiden , IPO , Covid-19 , infections

   

Did you find this article insightful?

Yes
No

100% readers found this article insightful

Next In Business News

Slack’s CEO is back in the passenger seat after Salesforce deal
Natural gas to contribute RM400mil to public finances over next decade
SCIB units secure EPCC contracts worth RM271mil
Flipkart’s digital payments firm PhonePe to raise US$700mil from existing investors
Astro posts RM164.5mil profit in Q3�
Bursa rallies with over 900 counters in positive zone
More US-listed Chinese firms seen seeking backup listings
Cagamas prices RM2bil debt notes 30-45 bps above MGS, MGII
Corporate Singapore faces crunch time in rare clash with activist funds
Grab 'in a position to acquire' after Gojek merger report

Stories You'll Enjoy