KUALA LUMPUR (May 3): The FBM KLCI closed lower on selling pressure, amid worries of another possible lockdown due to rising cases of Covid-19.

The benchmark index finished 10.90 points or 0.68% lower at 1,590.73.

Broad-based selling across all sectors on Bursa Malaysia saw losers outnumbering gains by three to one. Turnover totalled 6.68 billion shares worth RM4.24 billion.

Malacca Securities Sdn Bhd senior research analyst Kenneth Leong said investor sentiment was weak due to concerns over a potential stricter movement restriction in the country.

Prime Minister Tan Sri Muhyiddin Yassin said over the weekend that the ongoing movement control order will be reviewed, especially in states experiencing a spike in positive Covid-19 cases.

Meanwhile, Leong told The Edge that technology counters were down because investors were taking profits ahead of the Aidilfitri holidays, after the stocks had previously risen on recovery prospects.

Leading glove manufacturer Top Glove Corp Bhd fell 17 sen or 3.01% to RM5.48, Hartalega Holdings Bhd dropped 30 sen or 2.92% to RM9.98, and Supermax Corp Bhd declined 15 sen or 2.49% to RM5.88.

Among other KLCI component stocks, Kuala Lumpur Kepong Bhd closed 14 sen or 0.64% higher at RM22.14, Malayan Banking Bhd rose four sen or 0.49% to RM8,27, and Nestle (M) Bhd gained 30 sen or 0.22% to RM136.

All but three of Bursa Malaysia's indices closed lower, with the Technology Index the worse hit, closing 1.73% lower at 84.28 points. This was followed by the FBM ACE which fell 1.53% to 8,710.61, and the Construction Index which dropped 1.52%  down at 182.29.

Notable losers included Petronas Dagangan Bhd, Carlsberg Brewery (M) Bhd, Hartalega, Malaysian Pacific Industries Bhd, SKB Shutters Corp Bhd, Malaysia Airports Holdings Bhd, Aeon Credit Service (M) Bhd and Texchem Resources Bhd,

Transocean Holdings Bhd was the day's top gainer, surging 19 sen or 29.82% to  close at a record high of RM5.18.

Other gainers included Nestle, Central Global Bhd, Leon Fuat Bhd, Heng Huat Resources Group Bhd, Gets Global Bhd, Muda Holdings Bhd, Samchem Holdings Bhd and Kuala Lumpur Kepong Bhd.

Active stocks included LKL International Bhd, Focus Dynamics Group Bhd, Macpie Bhd, Melewar Industrial Group Bhd, Hiap Teck Venture Bhd, Priceworth International Bhd, Careplus Group Bhd and Tanco Holdings Bhd.

Bloomberg reported that  stocks in Asia mostly fell, as investors assessed inflation risks amid improving economic activity.