Bursa slips on state of emergency to contain pandemic


Shares on Bursa Malaysia fell on Tuesday on news about the state of emergency nationwide until Aug 1 as the government viewed this proactive measure as crucial to contain the Covid-19 pandemic.

KUALA LUMPUR: Shares on Bursa Malaysia fell on Tuesday on news about the state of emergency nationwide until Aug 1 as the government viewed this proactive measure as crucial to contain the Covid-19 pandemic.

Later in a live address to the nation on TV at 11am, Prime Minister Tan Sri Muhyiddin Yassin said there would not be a curfew during the period.

Ealier, At 10.10am, the FBM KLCI was down 17.28 points or 1.07% to 1,599.97. Turnover was 2.52 billion shares valued at RM1.62bil.

Decliners beat advancers 820 to 180 while 329 counters were unchanged.

MPI fell 90 sen to RM25.70 and UWC 31 sen to RM9.08 but Eng Kah rose 23 sen to RM1.44, Vitrox 10 sen to RM14.04 and Frontken nine sen to RM3.97.

Among the consumer stocks, Carlsberg fell 56 sen to RM20.38, Heineken 54 sen to RM21.60 and BAT 54 sen to RM12.32 but Apollo rose nine sen to RM3.79, CI Holdings nine sen to RM2.24.

Public Bank lost 32 sen to RM19.96, Aeon Credit 36 sen to RM10.64 while among plantations PPB Group lost 30 sen to RM19 and KL Kepong 22 sen to RM24.48.

The Star Online reported the King has agreed to declare a state of emergency nationwide until Aug 1 as a proactive measure to contain the Covid-19 pandemic.

Yang di-Pertuan Agong Al-Sultan Abdullah Ri'ayatuddin Al-Mustafa Billah Shah agreed to the decision after a meeting with Prime Minister Tan Sri Muhyiddin Yassin on Monday (Jan 10).

"I urge the people to remain calm and strong to face this state of emergency and the movement control order for our own safety and interest," said Comptroller of the Royal Household of Istana Negara Datuk Ahmad Fadil Shamsuddin in a statement on Tuesday (Jan 11)

On Monday, Muhyiddin announced that six states will be put under a movement control order starting Wednesday (Jan 13).

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