KUALA LUMPUR (Feb 10): The main index at Bursa Malaysia eked out limited gains at the midday break today as investor sentiment turned tepid.

At 12.30pm, the FBM KLCI was up 1.05 points at 1,587.18. The index had earlier risen to a high of 1,592.27.

Losers led gainers by 443 to 274, while 731 counters traded unchanged. Trading volume was 2.97 billion shares valued at RM1.83 billion.

The gainers included Ann Joo Resources Bhd, Hartalega Holdings Bhd, Cymao Holdings Bhd, Euro Holdings Bhd, Widetech (M) Bhd, Aeon Credit Service (M) Bhd and Paragon Union Bhd.

The actively traded stocks included Dagang NeXchange Bhd, AirAsia X Bhd, EA Holdings Bhd, Velesto Energy Bhd, Iris Corp Bhd, Lion Industries Bhd, Opcom Holdings Bhd, AirAsia Group Bhd, Yong Tai Bhd and Foundpac Group Bhd.

The decliners included Nestle (M) Bhd, Vstecs Bhd, Duopharma Biotech Bhd, Mesiniaga Bhd, Carlsberg Brewery Malaysia Bhd, My EG Services Bhd, British American Tobacco (M) Bhd and Can-One Bhd.

Bloomberg said stocks and equity futures pushed higher on Wednesday as investors weighed the potential for a stimulus-fueled economic rebound against the chances of destabilizing inflation.

The US dollar edged lower, it said.

Hong Leong IB Research said the KLCI’s technical rebound may resume today following the rally in crude oil and FCPO prices, the progressive roadmap of Malaysia’s National Immunisation Plan and positive comments by the Health Ministry that the number of Covid-19 cases is expected to be on a downward trend from now after hitting its peak on Jan 31 with 5,298 infections.

“However, the upside is likely to remain capped by the 1,600-1,618 hurdles ahead of the long CNY holidays (Feb 11: half-day trading; Feb 12) and the start of the February reporting season,” it said.