KUALA LUMPUR (Oct 30): The main index at Bursa Malaysia fell 0.66% at mid-morning as market breadth stayed negative in the absence of fresh catalysts at the local bourse, while regional markets traded mixed.
At 10am, the FBM KLCI fell 9.76 points to 1,485.44.
Losers outpaced gainers by 637 to 162, while 330 counters traded unchanged. Trading volume was 1.40 billion shares valued at RM741.12 million.
The top losers included Fraser & Neave Holdings Bhd, PPB Group Bhd, Time dotCom Bhd, Heineken Malaysia Bhd, Petronas Chemicals Group Bhd, UWC Bhd, Scientex Bhd and Public Bank Bhd.
The actively traded stocks included AT Systematization Bhd, Green Packet Bhd, Ho Wah Genting Bhd, Dataprep Holdings Bhd, Vivocom International Holdings Bhd, Mah Sing Group Bhd and KNM Group Bhd.
The gainers included Malaysian Pacific Industries Bhd, British American Tobacco (M) Bhd, Hartalega Holdings Bhd and Hume Industries Bhd.
Reuters said Asian markets looked to continue an upward swing on Friday, after a rebound in US equities and strong corporate earnings set the stage.
Australia's ASX 200 climbed 0.14% in early trading, while Hong Kong's Hang Seng Index futures were up 0.26%, it said.
Inter-Pacific Research Sdn Bhd in its daily bulletin said with market participation remaining tepid, coupled with few new impetuses, the FBM KLCI will stay mostly sideways as it attempts to hover close to the 1,500-point level, despite the lingering downside bias.
The research house said as it is, concerns over the country’s political imbroglio and unsettled Covid-19 infection rates are continuing to thumb down market sentiments and prolong the stock market's indifferent trend.
“This, in turn, will continue to keep most market players at bay for the time being as they wait for a fresh catalyst to emerge before deciding on their next course of action.
“For now, there are supports at the 1,490 and 1,480 levels, while the other resistance apart from the 1,500 level is at 1,508 points,” it said.