Over 700 stocks lost ground on Bursa YTD

DATA compiled by The Edge Financial Daily show that of the 900 over companies, 769 were in negative territory. The sharp fall was as much as 77.14% since the start of the year.

More than half of the 30 FBM KLCI component stocks have had a double-digit decline in their share price, with Petronas Chemicals Group Bhd being the biggest loser with its share price down 40.82%. Tourism-related stocks such as Genting Bhd (-25.45%), Genting Malaysia Bhd (-19.76%) and Malaysia Airports Holdings Bhd (-24.47%) were among the big losers.

Unsurprisingly, the only three counters which have seen growth in the last two months or so were healthcare stocks, namely Top Glove Corp Bhd (29.79%), Hartalega Holdings Bhd (16.79%) and IHH Healthcare Bhd (2.19%).

For counters with a market capitalisation of above RM5 billion, the top laggards were IOI Properties Group Bhd (-20.97%), followed by Westports Holdings Bhd (-18.05%) and Gamuda Bhd (-17.44%).

Of some 104 stocks with a market capitalisation of RM1 billion to RM5 billion, 58 counters have shown a decline in their share price. Within this bracket, the top four losers were oil and gas-related counters, namely Bumi Armada Bhd (-66.98%), Sapura Energy Bhd (-59.26%), both of which share price has sunken below 20 sen, Velesto Energy Bhd (-55.26%) and Dayang Enterprise Holdings Bhd (-47.41%). (Please refer to charts on Page 5.)