KUALA LUMPUR (Aug 27): The FBM KLCI settled up 1.42 points or 0.09% at 1,551 at Bursa Malaysia's afternoon break today as trade volume across the exchange surpassed nine billion securities.

At 12:30pm, Bursa registered a trade volume of 9.13 billion securities worth RM3.18 billion.

Meanwhile Bernama reported that Malacca Securities Sdn Bhd said the technology sector is back in rotational play premised on the solid demand overtime and record closing on Nasdaq overnight.

“There are also signs of a recovery among the glove and glove-related stocks as bargain-hunting activities take precedence amidst the recent volatility,” it said in a research note.

It was reported that the Nasdaq Composite Index finished at 11,665.06, up 198.59 points for a gain of 1.7%, marking its 39th all-time closing high of 2020.

Meanwhile, Maybank IB Research said technically, it expects the FBM KLCI to continue to range between 1,540 and 1,600 and possibly stage a rebound today. Downside support remains at 1,540 and 1,515.

Of the heavyweights, Maybank eased one sen to RM7.45, Top Glove recovered eight sen to RM26.42, Public Bank rose 16 sen to RM16.76, Tenaga rose four sen to RM11.04 and Hartalega was down two sen at RM16.74.

Among the actives, XOX gained 3.5 sen to 33 sen, while Pegasus Heights and P.A. Resources added one sen each to four sen and 10 sen, respectively.  

Meanwhile, top gainers Nestle increased 60 sen to RM139.80, Kwantas improved 30 sen to 85.5 sen and Kumpulan Powernet went up 25 sen to 3.19 sen.

The list of top losers was led by Carlsberg which slid 64 sen to RM21.88, while Supermax dipped 56 sen to RM20.72 and Heineken declined 54 sen to RM20.64.

On the index board, the FBM Emas Index ticked up 3.48 points to 11,198.95, the FBMT 100 Index was 2.64 points higher at 10,999.63 but the FBM 70 depreciated 25.38 points to 14,624.26.

The FBM Emas Shariah Index fell 6.59 points to 13,252.70 while the FBM ACE rose 86.82 points to 11,272.67.

Sector-wise, the Financial Services Index strengthened 20.29 points to 12,855.05, the Industrial Products and Services Index shed 0.18 point to 140.47, but the Plantation Index added 28.37 points to 7,062.63.