FBM KLCI falls 10.92 points, over 900 stocks fall

KUALA LUMPUR: The FBM KLCI ended lower on Monday with profit taking streaming in as a potential lockdown beckon making market players jittery.

The benchmark index closed 10.92 points, or 0.68% lower at 1,590.73, extending losses to a second straight session. It opened 0.44 of-a-point firmer at 1,602.09.

Market breadth was negative with 912 losers and 301 gainers, while 350 counters traded unchanged. Trading volume was 6.68 billion shares valued at RM4.25bil.

Dealers said the market sentiment was cautious on news of a potential lockdown in the near future. They added that the market’s near-term conditions may remain fluid due to the lingering uncertainties.

Adding to the downbeat note, oil prices fell towards US$66 per barrel on worries that fuel demand in India would be impacted by soaring Covid-19 cases.

Brent crude fell two cents to US$66.74 a barrel while US West Texas Intermediate was down four cents to US$63.62.

In today’s session, 24 of the component stocks closed in red, four ended higher while two closed unchanged.

Petronas Dagangan tumbled 38 sen to RM19.78, Hartalega fell 30 sen to RM9.98, Top Glove shed 17 sen to RM5.48 and Supermax declined 15 sen to RM5.88.

Nestle added 30 sen to RM136, Kuala Lumpur Kepong rose 14 sen to RM22.14, Maybank gained four sen to RM8.27 and Hong Leong Financial Group climbed two sen to RM16.60.

On the broader market, Transocean surged RM1.19 to RM5.18, Central Global added 28 sen to RM2.47 and Leon Fuat rose 20 sen to RM1.20.

Carlsberg lost 32 sen to RM22.56, MPI shed 30 sen to RM38.50 and SKB Shutters fell 26 sen to RM1.23.

Elsewhere in the region, MSCI's Asia ex-Japan stock index was weaker by 0.73%.

Hong Kong’s Hang Seng index closed down 367.34 points, or 1.28%, at 28,357.54, its lowest closing since March 29.

South Korea’s Kospi ended down 20.66 points, or 0.66%, at 3,127.20.

Chinese and Japanese markets were closed for Labour Day and Constitution Memorial Day respectively.

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