Biggest loser of the day: the “stock king” plunges RM2.00!

(Kuala Lumpur, 25th) The Malaysian stock market closed lower today, with the FBM KLCI falling 7.04 points or 0.43% to 1,611.74 points. “Stock King” Nestlé (NESTLE, 4707, Main Market Consumer Products) was the biggest decliner of the day.

The benchmark index opened at 1,619.54 points and briefly touched 1,620.99 points, but buying momentum faded, causing it to retreat to an intraday low of 1,611.25 points.

Total market turnover stood at 4.39194 billion shares, with a trading value of RM 2.82099 billion. Market breadth was mixed, with 562 gainers, 582 losers, and 569 counters unchanged.

Among the 30 component stocks, overall performance was weak, particularly Nestlé.

The consumer blue-chip faced strong selling pressure, sinking RM2.00 or 1.8% to RM110, making it the biggest loser on the market and dragging the benchmark index down by 0.6590 points.

Mixed performance across sector indices

Other major blue-chip counters under pressure included Hong Leong Bank (HLBANK), Maxis (MAXIS), 99 Speedmart (99SMART), and MR DIY (MRDIY). Collectively, these four stocks weighed the KLCI down by 8.6947 points.

Across sector indices, seven sectors ended higher, led by property (+1.1%) and technology (+1.0%).
The remaining six sectors closed lower, with notable declines in:

• Consumer Products Index: -1.6%
• Telecommunications & Media Index: -1.6%
• Construction Index: -1.0%
• REITs Index: -1.0%