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KUALA LUMPUR (Dec 18): FBM KLCI fell 1.31% or 21.86 points today, following declines in regional pairs, while news of the extension of the conditional motion control order weighed on the national investment sentiment.
The benchmark closed at 1,652.49, with 852 counters negative to 370 that rose, while 474 were unchanged.
Chief Minister Datuk Seri Ismail Sabri Yaakob announced today that the CMCO will be rolled out in Selangor, Kuala Lumpur, and Sabah until December 31, as Covid-19 infections in these locations remain high. This is the fourth CMCO extension that was first imposed on October 14 and was originally scheduled to end on October 27.
The CMCO also ran until December 31 in Seremban and Port Dickson in Negeri Sembilan, and in Johor Bharu, Batu Pahat and Kulai in Johor.
TA Securities Holdings Bhd senior technical analyst Stephen Soo told theedgemarkets.com that decorating activities were absent following news of the CMCO extension, which weighed on sentiment.
Moving on to next week, expect the benchmark to continue to decline before the Christmas holiday week. “Key support for the KLCI will be at 1,590, followed by 1,615, while immediate resistance is 1,695 and 1,680,” Soo added.
Bank stocks were among the biggest declines today, with Public Bank Bhd leading the way after falling 4% or 86 sen to close at RM20.64. RHB Bank Bhd also fell 2.9% or 16 sen to RM5.39, while Malaysian bank Bhd fell 2.8% or 24 sen to RM8.46. Also on the decline were Hong Leong Bank Bhd (down 12 sen or 0.6% to RM18.58) and CIMB Group Holdings Bhd (down two sen or 0.5% to RM4.38).
Other major decreases (by value) were Carlsberg Brewery Malaysia Bhd, Hengyuan Refining Co Bhd, Petron Malaysia Refining & Marketing Bhd, and Malaysia Airports Holdings Bhd.
Across Bursa Malaysia, trading volume fell to 8.06 billion units from 9.24 billion shares yesterday, while trading values saw a slight improvement to RM4.4 billion from RM4.33 billion.
Meanwhile, companies related to consumer products and services Nestlé (M) Bhd, Fraser and Neave Holdings Bhd and British American Tobacco (M) Bhd, as well as technology stocks Unisem (M) Bhd and Malaysia Pacific Industries Bhd were among the top winners today.
The assets, meanwhile, were led by Vsolar Group Bhd, which topped the list after 397.99 million shares were traded. The stock closed half a sen higher at 4.5 sen. Other actively traded stocks include Techna-X Bhd (formerly Sino Hua-An International Bhd), Hiap Teck Ventures Bhd, MNC Wireless Bhd, Puncak Niaga Holdings Bhd, Bintai Kinden Corp Bhd, and PA Resources Bhd.
Elsewhere in Asia, Japan’s Nikkei 225 fell 0.16%, while Seoul’s Kospi rose 0.06%. In China, the Hong Kong Hang Seng Index plunged 0.67%, while the Shanghai Stock Exchange Composite Index fell 0.29%.
Reuters reported that Asian stocks fell slightly on Friday, unable to catch a broader global rally, as investor sentiment in the region turned cautious about the economic outlook and post-Brexit concerns weighed in.
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