KLCI down 0.72% as Malaysia export fall extends for second month, global virus deaths mount

TheEdge Mon, Jun 29, 2020 12:58pm - 3 years View Original


KUALA LUMPUR (June 29): The FBM KLCI fell 0.72% at the midday break, as market breadth remained negative in line with regional markets as the rising death toll from the Covid-19 pandemic rattled investors.

Exacerbating the tepid domestic sentiment was Malaysia's exports posting a double-digit fall for two straight months through May, no thanks to the Covid-19 pandemic.

At 12.30pm, the FBM KLCI lost 10.72 points to 1,477.42.

Losers led gainers by 523 to 148, while 585 counters traded unchanged. Trading volume was 3.42 billion shares valued at RM1.19 billion.

The top losers included Heineken Malaysia Bhd, Carlsberg Brewery Malaysia Bhd, Panasonic Manufacturing Malaysia Bhd, Petronas Dagangan Bhd, PPB Group Bhd, Pentamaster Corp Bhd, KESM Industries Bhd, Hong Leong Financial Group Bhd and Yinson Holdings Bhd.

The actives included AT Systematization Bhd, Vsolar Group Bhd, Anzo Holdings Bhd, Lambo Group Bhd, Sapura Energy Bhd, KNM Group Bhd, KUB Malaysia Bhd and Minetech Resources Bhd.

The gainers included Ajinomoto (M) Bhd, Supermax Corp Bhd, United Malacca Bhd, Allianz Malaysia Bhd, Top Glove Corp Bhd, Nestle (M) Bhd, Batu Kawan Bhd, Comfort Gloves Bhd, Gamuda Bhd and Time Dotcom Bhd.

Reuters wrote Asian share markets began the week with a cautious tone on Monday as the relentless spread of the coronavirus finally made investors question their optimism on the global economy, benefiting safe harbour bonds and the US dollar.

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.6% and further away from a four-month top hit last week. Japan's Nikkei shed 1.3% and Chinese blue chips dip 0.6%, it said.

Kenanga Research said the benchmark FBM KLCI dropped 19.1 points or 1.3% to close at 1,488 last week.

It said that technically speaking, the FBM KLCI will probably be in a correction mood in the absence of fresh catalysts.

“Using Fibonacci retracement lines as a gauge, the near-term support levels are identified at 1,445 (S1) and 1,400 (S2) while our resistance barriers are set at 1,530 (R1) and 1,570 (R2),” it said.

The content is a snapshot from Publisher. Refer to the original content for accurate info. Contact us for any changes.






Related Stocks

9342 0.000
AJI 18.600
ALLIANZ 19.980
AT 0.155
BKAWAN 19.940
CARLSBG 18.500
COMFORT 0.425
GAMUDA 5.270
HEIM 23.320
HLFG 16.580
KAWAN 1.820
KENANGA 1.180
KESM 6.180
KNM 0.080
KUB 0.585
LAMBO 0.030
MINETEC 0.150
NESTLE 118.200
PANAMY 18.100
PENTA 4.470
PETDAG 21.580
PPB 15.380
SAPRES 0.330
SUPERMX 0.820
TIMECOM 5.180
TOPGLOV 0.800
UMCCA 5.100
VSOLAR 0.105
YINSON 2.360

Comments

Login to comment.