KUALA LUMPUR (May 4): Consumer stocks dominated Bursa Malaysia’s list of top losers in early trade despite the partial easing of the movement control order (MCO) effective today.
Last Friday, Prime Minister Tan Sri Muhyiddin Yassin announced that more sectors will be allowed to operate under the conditional MCO period to avoid further losses caused by movement curbs.
Topping the list as at 10.30am was Dutch Lady Milk Industries Bhd, whose shares were down 2.08% to RM47.19, followed by Nestle (Malaysia) Bhd at RM139.40, down 0.5%.
Four other consumer stocks on the list were PPB Group Bhd (down 1.82% to RM16.16), Carlsberg Brewery Malaysia Bhd (down 1.45% to RM27.20), Heineken Malaysia Bhd (down 1.59% to RM23.58) and British American Tobacco (Malaysia) Bhd (down 1.9% to RM12.42).
Other decliners included Petronas Gas Bhd (down 2.08% to RM15.08), Public Bank Bhd (down 2.56% to RM15.96) and Kuala Lumpur Kepong Bhd (down 1.14% to RM20.76).
The consumer products and services index lost 7.16 points or 1.35% to 540.86.
The prime minister said almost all economic sectors will be allowed to open with conditions beginning today, except for businesses involving large crowds such as entertainment centres, bazaars and exhibitions.
Outdoor activities are also allowed under the conditional MCO, particularly those that do not involve close contact or mass gatherings.
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