KUALA LUMPUR – Bursa Malaysia kicked off the year's final quarter on a lower note, with the FTSE Bursa Malaysia KLCI (FBM KLCI) down by 0.53% at the close amid a mixed broader market.
The market was dragged by the plantation counters, as the US Customs and Border Protection’s decision to ban palm oil and palm oil products from FGV Holdings Bhd weighed on sentiment towards these counters.
The plantation index contracted 134.74 points to 6,915.49.
The FBM KLCI erased 8.05 points to finish the day at 1,496.77 from Wednesday's close of 1,504.82.
It extended its losses after opening 3.24 points lower at 1,501.58. The index hovered between 1,491.13 and 1,503.58 throughout the day.
On the broader market, however, last-minute trading on the lower liners helped curb the fall, with gainers beating losers 501 to 499 while 404 counters were unchanged, 685 untraded and 21 others suspended.
Total volume eased to 4.91 billion shares worth RM2.60 billion from 5.66 billion shares worth RM2.64 billion recorded at Wednesday's close.
Among the index-linked stocks, Sime Darby Plantation erased 26 sen to RM4.79, IHH Healthcare slipped 12 sen to RM5.08, MISC dropped 21 sen to RM7.29 and Tenaga was 12 sen lower at RM10.38.
Besides the Sime Darby Plantation, the other counters that were in the red included IOI Corp, which slipped seven sen to RM4.39, and KLK, which lost 10 sen to RM22.70.
Earlier today, Human Resources Minister Datuk Seri M Saravanan revealed that another major player in the plantation sector, which he did not name, was expected to face a fate similar to FGV soon.
As for the healthcare-linked counters, some are lower due to profit taking activities, but shares of Top Glove and Hartalega were on the rise by 13 sen and 10 sen each to RM8.43 and RM16.26, respectively.
“As the Covid-19 new cases continue escalate, it will be good for the rubber glove counters especially the ones who are KLCI constituents such as Top Glove and Hartalega.
“Therefore, if the boost in the healthcare sector in the FBM KLCI can outweigh the overall weak sentiment, then the index will be range bound,” an analyst told Bernama.
As of Wednesday, nearly all of the states in the country recorded new Covid-19 cases because of individuals returning from Sabah.
The number of new Covid-19 cases reported in Malaysia returned to triple-digit figure today (260), after dropping to 89 yesterday.
At the close, heavyweights Maybank fell four sen to RM7.18, Tenaga dropped 12 sen to RM10.38, Public Bank gained eight sen to RM15.78 and Petronas Chemicals was four sen better at RM5.65.
Of the actives, XOX slipped 1.5 sen to 11.5 sen, Kanger International shed 3.5 sen to 14.5 sen, Iris climbed 4.5 sen to 32.5 sen and Bintai Kinden added 13 sen to 66.5 sen.
Among the losing counters, Nestle declined 90 sen to RM140.50, Carlsberg Brewery dropped 40 sen to RM20.30 and Genting Plantations was 26 sen weaker at RM9.69.
As for top gainers, F&N jumped 68 sen to RM32.78, Scientex added 50 sen to RM11.10 and Vitrox was 44 sen higher at RM12.64.
On the index board, the FBM Emas Index slipped 32.93 points to 10,798.62 and the FBM Emas Shariah Index weakened 48.37 points to 12,852.57 but the FBM 70 lifted 22.83 points to 14,151.65.
The FBMT 100 Index went down 38.23 points to 10,622.47 and the FBM ACE contracted 55.20 points to 9,858.81.
Sector-wise, the Financial Services Index declined 40.93 points to 12,436.69, the Plantation Index gave up 134.74 points to 6,915.49 and the Industrial Products and Services Index edged up 0.68 point to 137.53 7,050.23.
Main Market volume fell to 2.55 billion shares valued at RM2.01 billion from 2.80 billion shares worth RM1.99 billion.
Warrants turnover eased to 384.45 million units worth RM90.69 million from 411.32 million units worth RM92.99 million.
Volume on the ACE Market dropped to 1.98 billion shares valued at RM502.98 million from 2.44 billion shares worth RM556.99 million.
Consumer products and services accounted for 573.01 million shares traded on the Main Market, industrial products and services (874.60 million), construction (176.71 million), technology (336.90 million), SPAC (nil), financial services (24.33 million), property (100.23 million), plantations (88.84 million), REITs (13.15 million), closed/fund (13,700), energy (225.62 million), healthcare (69.02 million), telecommunications and media (26.61 million), transportation and logistics (31.73 million) and utilities (14.19 million). – Bernama, October 1, 2020
