Blue chips slips into a larger mixed market

KUALA LUMPUR: Blue chips slipped at the start of Tuesday as the slight rebound faltered despite stronger first-quarter corporate earnings as investors worried about record-breaking Covid-19 deaths and infections.

At 9.44 am, the FBM KLCI fell 4.24 points or 0.27% to 1567.58. Turnover was 1.68 billion shares valued at RM 691.20 million. There were 353 winners, 348 losers and 330 counters unchanged.

However, Asian stocks were flat on Tuesday after tech stocks sparked a rally on Wall Street as Federal Reserve officials tried to allay inflation concerns. Bitcoin held onto its gains after last week’s crypto rout, Bloomberg reported.

Shares of Japan, South Korea and Australia edged up on the open.

Brent futures were down 6 cents to $ 68.40 a barrel at 12:39 a.m. GMT, after jumping 3% on Monday. US West Texas Intermediate futures fell 8 cents to $ 65.97 a barrel, after gaining 3.9% the previous session, according to Reuters.

In Bursa on Monday, local retail investors were net buyers at RM50.3 million, but foreign funds turned net sellers at RM43.6 million and local funds at RM 6.7 million.

Among consumer stocks, Nestle fell 20 sen to RM 135.60 and Ajinomoto lost 16 sen to RM 15.44, but Carlsberg added 44 sen to RM 21.60, BAT 16 sen to RM 15.80 and F&N 14 sen at RM 25.96.

Among the glove makers, Hartalega lost 18 sen at RM9.30 and Supermax 13 sen at RM4.36.

The other declines were MAHB, down 12 sen to RM 5.36, D&O 13 sen to RM 4.27 and Petronas Gas 12 sen to RM 15.74.

However, MPI tops the list of winners, up to 70 sen at 37.86 RM. The latest data showed that North American-based semiconductor equipment makers posted US $ 3.41 billion in billings globally in April 2021, 4.1 percent more than final billings from March 2021 by US $ 3.27 billion, up 49.5% from invoices of US $ 2.28 billion a year ago.

Sedania rose 22.5 sen to RM 1.13 and Aeon Credit 18 sen at RM12.


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