Friday 29 Mar 2024
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KUALA LUMPUR (Feb 13): The FBM KLCI settled down 3.66 points or 0.243% at 1,539.28 at Bursa Malaysia's afternoon break today as world markets reacted to news on the jump in the number of new Corona Virus Disease (Covid-19) cases in China's Hubei province.

Across Bursa at 12:30pm today, 1.41 billion shares worth some RM973 million were traded. British American Tobacco (M) Bhd topped decliners while Carlsberg Brewery Malaysia Bhd led gainers.

Globally, Reuters reported that Asian stock markets wobbled and the safe-havens of the Japanese yen, gold and bonds rose on Thursday as the number of new coronavirus cases at the outbreak's epicentre in Hubei jumped sharply.

It was reported that Hubei reported 242 new deaths and confirmed 14,840 new cases on Feb 12, a dramatic rise from the 2,015 new cases a day earlier.

The sharp rise in the number of new Covid-19 cases in Hubei surprised global investors, who had earlier taken cue from easing concerns on the outbreak.

Overnight in the US, Reuters reported that equity indices at Wall Street closed at record highs as news that the coronavirus outbreak could be running out of steam kept buyers in the ring.

It was also reported that crude oil prices rose over 3% on Wednesday as China had earlier reported its lowest daily number of new coronavirus cases since late January, stoking investor hopes that fuel demand in the world's second-largest oil consumer may begin to recover.

In Malaysia today, TA Securities Holdings Bhd wrote in a note before market opened that "stocks should recover from the previous day's fall, with sentiment buoyed by hopes the coronavirus outbreak may soon peak to limit damage to the global economy".

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