Key Asian markets in the red, KLCI limits losses

Published on 30 Jan 2020. | Source: thestar.com.my

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KUALA LUMPUR: Worries about the severe impact from the coronavirus slammed key Asian markets and sent Taiwan's Taiex, which opened for trading on Thursday, reeling. Bursa Malaysia was not spared the selling though it had reduced somewhat.

At 5pm, the 30-stock FBM KLCI had closed down 4.88 points or 0.31% to 1,545.59 and already year-to-date, it is down 2.72%.

Turnover on Bursa was 2.81 billion shares valued at RM2.31bil. Decliners beat advancers 646 to 253 while 368 counters were unchanged.

Reuters reported China's National Health Commission said the total number of deaths from the coronavirus in the country climbed to 170 by late Wednesday, and the number of those infected rose to 7,711.

Almost all the deaths have been in the central province of Hubei, home to about 60 million people and now under virtual lockdown. The virus emerged last month in a live wild animal market in the provincial capital of Wuhan.

The Taiex tumbled 5.75%, Hong Kong's Hang Seng Index 2.62% lower and Japan's Nikkei 225 slumped 1.72% and South Korea's Kospi 1.71% while Singapore's STI lost 0.37%.

Bloomberg reported that stocks slid with US equity futures as investors mulled mounting evidence that the coronavirus epidemic is disrupting the world’s second-largest economy.

The Stoxx Europe 600 Index opened sharply lower, with all 19 sectors in the red.

At Bursa, Petronas Chemicals fell 13 sen to RM6.45 and shaved off 1.84 points from the KLCI, Petronas Gas lost 30 sen to RM16 and erased more than one point but Petronas Dagangan rose 22 sen to RM22.50.Dialog shed one sen to RM3.26.

US light crude oil fell 65 cents to US$52.68 and Brent 75 cents to US$59.06.

As for telcos, Digi fell eight sen to RM4.33 and wiped out 1.1 points, Axiata was flat at RM4.30 while Maxis gained one sen to RM5.50.

Tenaga fell eight sen to RM12.48, MISC and Genting five sen each to RM7.95 and RM5.60 while GentingM edged up one sen to RM3.09.

MAHB rose 19 sen to RM6.87, Sime Darby five sen to RM2.20 and IHH was unchanged at RM5.80. Bursa lost 18 sen to RM5.68 after announcing lower earnings for FY 2019.

Even glove makers, which had seen a surge due to the coronavirus, gave up some gains. Hartalega lost nine sen to RM5.95 but Top Glove gained five sen to RM5.89.

Among the banks, Maybank rose four sen to RM8.49 and added 0.8 of a point, AmBank gained one sen to RM3.78, HL Bank and RHB Bank shed two sen each to RM15.78 amd RM5.73 while Public Bank lost 10 sen to RM18.90 and CIMB four sen to RM4.95.

Crude palm oil for third month delivery fell RM86 to RM2,637 per tonne.

KL Kepong fell the most among plantations in the KLCI, down 22 sen to RM22.90, PPB Group shed two sen to RM18.66 and IOI Corp one sen to RM4.51 while Sime Plantations eked out one sen to RM5.50.

Batu Kawan fell 28 sen to RM16.32 and United Plantations 16 sen to RM16.10.

Tech and semicon stocks were among the top losers, KESM down 48 sen to RM10.90, Vitrox 16 sen to RM9.41 and Pentamaster 15 sen to RM5.03.

The ringgit weakened 0.21% to the US dollar to 4.0890; lost 0.04% against the pound sterling to 5.3131, sank 0.37% versus the euro to 4.5050 but edged up 0.02% to 3.0008 against the Singapore unit.

Spot gold rose US$3.17 to US$1,580 per troy ounce.





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