KUALA LUMPUR (May 20): The FBM KLCI inched up in early trade Wednesday, against the backdrop of mixed regional markets while healthacare stocks ticked up, but gains were seen capped.

At 9.05am, the FBM KLCI rose 4.88 points to 1,428.85.

The early gainers included Petronas Dagangan Bhd, Hartalega Holdings Bhd, Comfort Gloves Bhd, Supermax Corp Bhd. Pharmaniaga Holdings Bhd, United Plantations Bhd, Yinson Holdings Bhd, Rubberex Corp Bdh and Public Bank Bhd.

The gainers included Kuala Lumpur Kepong Bhd, Bursa Malaysia Bhd, Panasonic Manufacturing Malaysia Bhd, Public Bank Bhd, Yinson Holdings Bhd, Heineken Malaysia Bhd, Syarikat Takaful Malaysia Keluarga Bhd and Hong Leong Financial Group Bhd.

Bloomberg said stocks in Asia were mixed early Wednesday as reports on Moderna Inc.’s coronavirus vaccine added to concern that a successful way to beat the pandemic remains a long way off.

Treasuries held an overnight advance, it said.

Rakuten Trade in its daily market report said sellers took centre stage on Wall Street yesterday as high hopes for a Covid-19 vaccine turned out to be a disappointment.

“The Dow Jones Industrial Average lost 390 points but remained above the 24,000 level.

“Therefore, one can expect profit taking on regional markets to emerge today following some solid performances yesterday.

“As for the local bourse, we believe the FBM KLCI to be stubbornly supported by the local institutions but may soften today to around the 1,410/15 range as investors may want to take the opportunity to lock in some profits,” it said.

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