KUALA LUMPUR (Oct 7): The FBM KLCI settled down 6.44 points or 0.43% at 1,503.03 during Bursa Malaysia’s afternoon break today after volatile trade as investors weighed the impact of rising Covid-19 cases globally and as world markets took cue from US President Donald Trump's sudden decision to end economic stimulus negotiations with lawmakers.

Across Bursa at 12:30pm, 2.84 billion shares were traded for RM1.85 billion.

"Stocks should fall back into profit-taking consolidation mode as investors reduce commitments amid worries an escalation in local Covid-19 transmissions may force another lockdown and adversely impact economic growth in the absence of further stimulus,” TA Securities Holdings Bhd analysts wrote in a note today.

Globally, it was reported that Asian stock markets edged higher on Wednesday, brushing off Wall Street's weaker finish, which came after Trump abruptly broke off economic stimulus negotiations with lawmakers.

It was reported that Trump cancelled talks with Democrats in a Tweet saying that negotiations will stop until after the election, when he promises a major stimulus bill.

"That sent Wall Street tumbling and safe assets like the US dollar and bonds higher. Investors in Asia, however, seemed less rattled, holding a view that stimulus would be delayed rather than derailed,” Reuters reported.

Meanwhile, Bernama reported that across Bursa, gainers surpassed losers at 470 versus 339, while 439 counters were unchanged, 876 untraded and 20 others suspended.

Of the heavyweights, Petronas Chemicals dipped 12 sen to RM5.88, Tenaga Nasional shed 32 sen to RM13.90, Axiata slipped four sen to RM2.92 and Petronas Dagangan erased 36 sen to RM19.64.

Among the gainers, Supermax added 32 sen to RM9.55, Prolexus gained 25 sen to RM1.50 and UWC leapt 20 sen to RM6.50.

On the index board, the FBM Emas Index shrank 18.87 points to 10,859.12 and the FBM Emas Shariah Index was down 13.10 points to 12,977.40.

The FBM 70 added 53.81 points to 14,293.67 while FBMT 100 Index eased 23.76 points to 10,682.74.

Sector-wise, the Financial Services Index declined 61.64 points to 12,388.23, the Plantation Index shed 8.96 points to 6,954.62, and the Industrial Products and Services Index was 0.47 of-a-point stronger at 139.08.