KUALA LUMPUR (March 3): Shares of brewery counters stood among the top gainers in early trade today on bargain hunting, following a four-day selling streak amid the recent change in federal administration.

Carlsberg Brewery Malaysia Bhd and Heineken Malaysia Bhd have emerged as the second and third biggest gainers on Bursa Malaysia.

At press time, Carlsberg shares were up 82 sen or 2.83% to RM29.70, giving it a market capitalisation of RM9.09 billion. The shares had risen as much as RM1.12 earlier.

Heineken shares meanwhile rose 74 sen or 3.22% to RM23.74, giving it a market capitalisation of RM7.15 billion. The counter had risen as much as RM1 earlier.

Their shares had plunged over 20% over the past week, completely erasing gains arising from the stellar financial performance for the year ended Dec 31, 2019 announced the week before.

Meanwhile, British American Tobacco (M) Bhd emerged as the fifth biggest gainer on Bursa Malaysia, having risen as much as 48 sen earlier. At press time, the cigarette manufacturer’s shares were trading 16 sen or 1.29% higher at RM12.52, giving it a market capitalisation of RM3.58 billion.

Gambling stocks were mixed. At press time, Genting Malaysia Bhd traded unchanged at RM2.78, Genting Bhd rose 6 sen to RM4.93, while Magnum Bhd was up 5 sen to RM2.34.

Sin stocks faced some selling pressure over the past week amid fear of changes in the governing policies of the new administration, coupled with concerns over consumer sentiment as the Covid-19 outbreak persists.