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May 21, 2021

New Covid-19 Record Triggers Weak Sentiment

 Bursa Malaysia opened lower in early trading today on weak sentiment due to the new Covid-19 case which hit a new record yesterday.

At 9.07am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) index declined 1.66 points to 1,578.86 from 1,580.52 at the close yesterday.

According to Bernama, the index opened 2.67 points lower at 1,577.85.

In the market as a whole, losers outnumbered gainers by 262 to 166, 252 counters were unchanged, while 1,525 were untraded and 18 others suspended.

Turnover stood at 380.36 million worth RM228.29 million.

Rakuten Trade Sdn Bhd said the FBM KLCI saw more declines following the new high Covid-19 case and public concerns about tighter movement restrictions.

"However, we expect the key index to trade between 1,575-1,585," it said in a research note.

Among heavyweights, Maybank and Public Bank added two sen each to RM8.30 and RM4.21, Press Metal rose one sen to RM5.21, while IHH Healthcare was flat at RM5.28, Petronas Chemicals declined three sen to RM7.95 and TNB declined two sen to RM9.95.

Of the active stocks, UCrest rose 4.5 sen to 37.5 sen, Tanco and Focus Dynamics rose half-a-sen each to 15 sen and 6.5 sen, Key Asic added one sen to 15.5 sen while LKL International declined one sen to 39.5 sen and QES Group declined half a sen to 62.5 sen.

On the index board, the FBM Emas Index declined 11.49 points to 11,482.41 and the FBMT 100 Index declined 9.59 points to 11,174.22.

The FBM Emas Shariah Index declined 24.7 points to 12,799.35, FBM ACE rose 23.77 points to 7,744.91 and FBM 70 declined 4.31 points to 14,765.03.

By sector, the Plantation Index declined 21.59 points to 6,930.37, the Industrial Products and Services Index declined 0.42 points to 191.52 and the Financial Services Index rose 23.63 points to 14,896.58.