Overnight tumble on Wall St rattles Bursa, Asian markets

TheStar Thu, Mar 12, 2020 09:21am - 1 year ago

KUALA LUMPUR: The overnight tumble on Wall Street sent key Asian markets and Bursa into the red early Thursday over the spreading fallout from the Covid-19 coronavirus globally.

At 9.12am, the FBM KLCI was down 14.23 points or 1% to 1,429.60. Turnover was 361.51 million shares valued at RM173.90mil. There were 97 gainers, 432 losers and 120 counters unchanged.

Bloomberg reported a global equity rout deepened in Asia after a renewed sell-off in US equities, with investors concerned by a lack of clarity from the Trump administration on a coronavirus stimulus package.

Shares in Japan sank and Australian equities extended recent losses, getting little respite from that nation’s stimulus package. Treasuries found a renewed bid.

Japan’s Topix index fell 1.8% as of 9:02 a.m. in Tokyo, futures on the S&P 500 lost 0.1%, Australia’s S&P/ASX 200 Index declined 2.7% and South Korea’s Kospi index sank 0.9%.

At Bursa on Wednesday, local institutions and retail investors were net buyers at RM280mil and RM40.3mil, offsetting the net selling of RM320.3mil by foreign funds.

Carlsberg fell the most, down 76 sen to RM27.08 while F&N lost 50 sen to RM29.42 and BAT 20 sen to RM11.56.

As for plantations, PPB Group lost 44 sen to RM17.24 and KL Kepong 22 sen to RM20.50.

KESM was down 27 sen to RM7.99, Atlan and Bintulu Port 20 sen each to RM3.83 and RM4.

Top Glove was the top gainer, up 28 sen to RM6.56, Kossan 23 sen to RM5.35, Hartalega 13 sen to RM6.61 and Supermax eight sen to RM1.81.

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