KUALA LUMPUR (May 30): British American Tobacco (M) Bhd shares fell 4.52 percent, while Malaysia's benchmark index advanced.

Market Metrics

* Shares declined to RM29.60, lower than any close since May 15, 2018, from RM31 in the previous session.

* Trading volume was more than 10 times the 20-day average.

* The FTSE Bursa Malaysia KLCI Index - Kuala Lumpur Composite Index gained 0.4 percent, and the MSCI AC Asia Pacific Index fell 0.3 percent.

* The relative strength index on the stock was below 30, indicating it may be oversold.

Market Insights

* In the past year, the stock had a similar or greater loss six times at the close; it advanced in the next trading session four times (1.7 percent, on average) and declined twice (3.6 percent, on average).

* Shares are at a 4.4 percent discount to the analysts' consensus target price. The stock traded at an average 1.8 percent premium over the past year.

* RHB analyst Wei Siang Soong upgraded the recommendation on BAT Malaysia to neutral and assigned a target price of RM33.30 yesterday.

* Stock declined 7.1 percent in the past 52 weeks as the FTSE Bursa Malaysia KLCI Index - Kuala Lumpur Composite Index lost 5.1 percent.

Catalysts

* A cash distribution of 30 sen was announced with June 13 as the estimated ex-date.