Bursa starts new week in the red, PetDag weighs

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KUALA LUMPUR: Bursa Malaysia started Monday on a downbeat note, with the FBM KLCI weighed down by some selling of selected stocks including Petronas Dagangan.

Investors continue to worry about the economic impact of the stringent measures to curb the spread of the Covid-19 infections, with the semiconductor and glove makers – which are major exporters – appealing to the government to relook at the restrictions.

At 9.27am, the FBM KLCI was down 3.06 points or 0.2% to 1, 530.29. Turnover was 810.06 million shares valued at RM391mil. There were 262 gainers, 286 losers and 341 counters unchanged.

Bloomberg reported Asian stocks were steady in early trade after US shares climbed further on speculation the Federal Reserve has scope to continue providing substantial stimulus support. Oil edged lower amid an OPEC+ spat.

Japanese shares slipped while South Korea and Australia inched up. The S&P 500 reached a record for a seventh day Friday after a US jobs report signaled the economy is gaining steam but not at a pace that would prompt the central bank to taper stimulus quickly.

Japan’s Topix index fell 0.4%, Australia’s S&P/ASX 200 Index added 0.3% while South Korea’s Kospi index rose 0.4%.

At Bursa last week, local retail investors were net buyers at RM309.6mil and local funds at RM189.7mil but foreign funds were net sellers at RM499.3mil.

Last Friday, local retail investors remained net buyers at RM13.9mil and local funds at RM14.8mil but foreign funds were net sellers at RM28.7mil.

In early Monday trade, MPI fell 18 sen to RM38.92, Petronas Dagangan 16 sen to RM18.44, TGL nine sen to RM2.10 and Hengyuan nine sen to RM4.62.

Other decliners were HLFG eight sen to RM17.92, TimeCom eight sen also to RM14.10 while OMH lost four sen to RM2.70

Genetec surged RM2.96 to RM15.98, KESM 62 sen to RM11.58, Hightec 57 sen to RM3.63 and PMB Tech 10 sen to RM5.30.

SKB Shutters surged 35 sen to RM1.93 and Mesniaga 20.5 sen to RM1.77.

Serba Dinamik rose 1.5 sen to 40 sen with 149 million shares and its warrants gained one sen to 22.5 sen.



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