Malaysia: Carlsberg and Heineken top losers list on local bourse on possible governing policy changes, Covid-19 spread

Carlsberg Brewery Malaysia Bhd and Heineken Malaysia Bhd topped the losers list on the local bourse in the March 2 morning trading, as investors dump shares amid fears of change in governing policy under the new government, as well as the spread of Covid-19, The Edge Markets MY reported.

Carlsberg was the top loser, with its share price plunging as much as 11.43% to RM28.20 in early trade — lowest since Dec 24, 2019. At 10.45am, the counter pared some of its early losses and was trading at RM28.70 — still down 9.86%, valuing it at some RM9.74 billion. The counter saw some 796,600 shares changing hands.

Heineken's share price dived to almost a year low at RM21.72, tumbling as much as 14.82% in early trade. At 10.45am, the counter was trading at RM22.70, valuing it at RM7.7 billion, with some 366,900 shares exchanging hands.

Gaming counters that were not spared are Magnum Bhd and Berjaya Sports Toto Bhd (BToto), whose shares also dropped to their lowest level since June last year.

Magnum’s share price was down as much as 15 sen or 6.22% at RM2.26, the lowest since June 4, 2019 when it closed at RM2.29. At 11.15am, the counter was trading 10 sen or 4.15% lower at RM2.31, for a market capitalisation of RM3.43 billion. The counter saw some 925,400 shares changing hands.

BToto's share price fell to its intraday low of RM2.41 in early trade — its lowest since June 4, 2019, after falling 4%, bringing it a market cap of RM3.38 billion. The counter saw some 759,700 shares traded.

02 March, 2020