KLCI skids over 25pts, Asian markets retreat
Tuesday, January 28, 2020       09:15 WIB

KUALA LUMPUR: Bursa Malaysia started Tuesday on a worried note as the FBM KLCI skidded over 25 points at one point, tracking the overnight fall on Wall Street and key Asian markets over the coronavirus outbreak.
At 9.13am, the KLCI was down 22.92 points or 1.46% to 1,549.89. Losers hammered gainers 536 to 79 and 135 counters unchanged.
Asian stocks extended a global selloff as China took more drastic steps to combat the coronavirus, while bonds found favour on expectations central banks would need to keep stimulus flowing to offset the likely economic drag, Reuters reported.
MSCI 's broadest index of Asia-Pacific shares outside Japan slipped 0.8% in early Asian trading on Tuesday. Japan's Nikkei was 0.7% down, Australian shares stumbled 1.3% and South Korea's Kospi index skidded 2.6%.
On Monday, key indexes for British, French and German equity markets slid more than 2%, as did pan-European markets on worries about the potential economic impact from the deadly virus. Stocks on Wall Street fell more than 1%.
At Bursa last week, foreign funds were net buyers at RM29.4mil while retail investors raised their net buying to RM56mil while local institutions were net sellers at RM85.4mil.
Nestle fell the most, down RM1.60 to RM144.50 and Dutch Lady fell 50 sen to RM41.50.
Petronas Dagangan fell RM1.14 to RM22, KESM 88 sen to RM11.12 and Allianz 56 sen to RM14.30.
Glove makers surged led by Top Glove, up 51 sen to RM6.05, Kossan 40 sen to RM5.15, Hartalega 30 sen to RM6.33 and Supermax 23 sen higher to RM1.84. Careplus jumped 12.5 sen to 36 sen in very active trade.
Bumi Armada fell 4.5 sen to 42 sen with 19.48 million shares traded.

Sumber : thestar.com.my