KUALA LUMPUR: Key Asian markets including Bursa Malaysia fell in early Tuesday trade, tracking the overnight decline on Wall Street as investors’ sentiment was hit by rising Covid-19 cases.
At 9.32am, the FBM KLCI was down 10.70 points or 0.67% to 1,591.87. Turnover was 1.32 billion shares valued at RM677.85. Decliners beat advancers 492 to 244 while 387 counters were unchanged.
Asian stocks slipped amid concern that a surge in global coronavirus cases could crimp the economic recovery, with traders also bracing for key runoff elections in the US. Gold maintained a rally, Bloomberg reported.
Shares fell in Australia, Japan and South Korea. S&P 500 contracts fluctuated after the benchmark suffered its worst decline to start a year since 2016. The Cboe Volatility Index, or VIX, surged the most since October.
At Bursa, which was routed by foreign funds on Monday with net selling of RM852mil, continued to see cautious trade.
Among consumer stocks, Nestle fell RM1.70 to RM137 and F&N 38 sen to RM31.60.
Petronas Chemicals lost 18 sen to RM7.03, MISC 17 sen to RM6.55 and Petronas Gas 16 sen to RM17.04. Hengyuan was down 18 sen to RM5.78.
As for plantations, KL Kepong was the top loser, down 20 sen to RM23.54.
Hong Leong Bank fell 14 sen to RM18.24. Time dotCom lost 14 sen to RM13.26.
Toyo Ventures was the top gainer, up 50 sen to RM2.19 and its warrants hit limit-up, 29.5 sen to RM1.09.
Greatec added 18 sen to RM9.58 while SWS Cap jumped 14.5 sen to 91.5 sen.
However, Supermax added 11 sen to RM5.62 and Top Glove nine sen to RM5.59 after being hammered by short sellers on Monday.
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