KUALA LUMPUR, Feb 3 — Bursa Malaysia remained lower across the board at mid-morning today, tracking global equities which were in the red as investors stayed cautious over the 2019 novel coronavirus (2019-nCoV) outbreak, analysts said.
At 11am, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 5.10 points to 1,525.96 from Friday’s close of 1,531.06.
The benchmark index opened 8.92 points easier at 1,522.14.
On the broader market, losers led gainers 751 to 129, with 259 counters unchanged, 821 untraded and 21 others suspended.
Turnover amounted to 1.97 billion shares worth RM993.21 million.
AxiCorp chief market strategist Stephen Innes said the announcement by China’s central bank that it would inject 1.2 trillion yuan (US$174 billion) worth of liquidity into the financial markets via reverse repo operations, had provided an orderly start to trading in the republic’s market.
“In the context of Asia, however, the big question is in the currency market and possible outflows as well as economic reality check.
“With China’s industrial complex on lockdown for another week, it is hard to view these events through anything other than a negative economic lens,” he said.
He said the adverse knock-on effects would move beyond China’s border and would probably cascade globally.
Among the heavyweights, Malaysia Airports declined 1.63 per cent or 11 sen to RM6.63 on concerns over the spread of the 2019-nCoV.
Dialog Group decreased six sen to RM3.21, Axiata slipped seven sen to RM4.23, Sime Darby Plantation fell eight sen to RM4.99 and Top Glove eased nine sen to RM5.76.
Among the actives, Bumi Armada recovered half-a-sen to 36 sen, Sapura Energy reduced half-a-sen to 24 sen and Vivocom was flat at two sen.
As for the top losers, Nestle dipped RM1.00 to RM143.30, Dutch Lady lost 68 sen to RM40.32 and F&N contracted 48 sen to RM32.38.
On the index board, the FBM Emas Index decreased 70.67 points to 10,819.45, the FBM Emas Shariah Index fell 95.80 points to 11,456.90, the FBMT 100 Index erased 63.66 points to 10,639.93, the FBM 70 was 196.30 points weaker at 13,455.20, and the FBM Ace gave up 93.81 points to 5,283.41.
Sector-wise, the Industrial Products and Services Index inched down 1.17 points to 142.14, the Financial Services Index was 48.09 points easier at 14,734.17 and the Plantation Index slid 94.01 points to 7,049.61. — Bernama
