KUALA LUMPUR (Oct 30): The FBM KLCI closed 1.89% lower today on profit taking amid cautious sentiment ahead of crucial developments at home and abroad. 

The downtrend was in line with falls in regional markets as fears of a global economic slowdown amid surging coronavirus cases affected sentiment, while investors also looked ahead to the US presidential election next Tuesday (Nov 3). 

Areca Capital Sdn Bhd CEO Danny Wong said overall investor sentiment was one defined by caution amid next week’s developments. 
 
“Next week is set to be an eventful week with Budget 2021, Bank Negara Malaysia’s Monetary Policy Meeting and the US presidential elections. 
 
“As such, those that are currently sitting on gains would want to take profit, while those that are not are still trading to mitigate uncertainties,” he said.  

The KLCI ended 28.31 points lower at 1,466.89.  

The weak sentiment spread across the trading floor with small and large-cap stocks not spared from declines on the final trading day of the month, as investors turn even more cautious. 
 
The FBM ACE Index dropped 3.845% or 377.34 points to 9,443.20, while the Small Cap Index declined 2.65% or 351.58 points to 12,896.64. 
 
A total of 944 decliners were registered on Bursa Malaysia today, against 211 gainers and 390 counters that closed unchanged. 
 
Some 5.9 billion shares worth RM3.91 billion were traded today. 
 
TA Securities Research said its daily brief that investors remain sidelined amid caution over the exponential surge in Covid-19 cases in the US and Europe, as well as uncertainty ahead of the US elections. 
 
“Key support for the index will be the 200-day moving average at 1,492, with next chart supports from Monday and September's low of 1,482 and 1,474 respectively, and more solid supports seen from the 38.2%FR of the 1,207 to 1,618 upswing at 1,461, and then 1,450.  

“Immediate upside hurdles stay at the 50-day moving average at 1,518, with next hurdle at the 100-day moving average at 1,538, followed by 1,560, and then the 100-week moving average at 1,574,” the research house said. 
 
Top active counters included AT Systemization Bhd, Diversified Gateway Solutions Bhd and Vivocom International Holdings Bhd. 
 
Top value gainers were Nationwide Express Courier Services Bhd, Advance Packaging Technology (M) Bhd and British American Tobacco (M) Bhd. Conversely, top value losers were Nestle Bhd, PPB Bhd and Carlsberg Brewery Malaysia Bhd. 
 
Reuters reported Asian equities were subdued after Wall Street’s sell-off, as Covid-19 cases continued to surge in the United States, while fears of more lockdowns across Europe following France and Germany's moves this week, also dented the mood. 
 
Japan’s Nikkei 225 index was down 1.52% or 354.81 points at 22,977.13, the Hang Seng in Hong Kong finished 1.95% or 479.18 points lower at 24,107.42, while the Shanghai Composite fell 1.47% or 48.19 points to 3,224.53.