KUALA LUMPUR: The FBM KLCI pared some of its losses today, but remained in the negative zone with over 800 counters in red.
At 5pm, the 30-stocks index fell 10.89 points to 1,583.55, underperforming most Asia Pacific markets. The index opened 23.4 points lower at 1,571.04 this morning. It ended 1.13% lower for May.
Market breadth was negative as losers hammered gainers on a ratio of 843-to-273 stocks. Traded volumes stood at 6.4 billion shares worth RM3.47bil.
In todays session, 22 out of the 30 FBM KLCI-linked counters closed in the negative zone while four closed higher.
Last Friday, the government announced a nationwide total lockdown from June 1 to June 14 to curb the rapidly rising daily Covid-19 infections.
All sectors will not be allowed to operate during this period, except the essential economic and service sectors.
CGS-CIMB Research estimates the two-week total lockdown Phase 1 will entail aggregate capacity cuts of 25% of GDP or economic losses of RM1bil a day, milder than MCO 1.0 (RM2.4bil a day) in March last year.
The research house said its estimation of the economic losses was based on the list of 17 approved economic activities during the two-week period from June 1 to 14.
Petronas Dagangan lost 40 sen to RM18.90, Hong Leong Financial Group shed 30 sen to RM17.54, Hartalega fell 20 sen to RM9 and Hong Leong Bank declined 20 sen to RM18.40.
Top Glove rose nine sen to RM5.18, Genting Malaysia gained two sen to RM2.79 while Sime Plantation and Sime Darby added one sen each to RM4.55 and RM2.29 respectively.
On the broader market, Serba Dinamik tumbled 48 sen to RM1.13. Hengyuan lost 45 sen to RM5.23 and Heineken fell 38 sen to RM23.42.
MPI rose RM1.90 to RM39.10, Pharmaniaga gained RM1.51 to RM6.57, Panasonic Manufacturing advanced 39 sen to RM31.98 and Duopharma added 29 sen to RM3.30.
Most regional markets closed higher with Hong Kongs Hang Seng index up 0.1% to 29,151.80.
South Koreas Kospi closed up 15.19 points, or 0.48%, to 3,203.92 while Japans Nikkei 225 ended 0.99% lower at 28,860.08.
Chinas CSI300 index rose 0.2% to 5,331.57, while the Shanghai Composite Index firmed 0.4% to 3,615.48.
