KUALA LUMPUR (Oct 19): The main index at Bursa Malaysia pared some of its gains at the midday break today but was up 0.62% in line with the regional markets.
At 12.30pm, the FBM KLCI rose 9.36 points to 1,513.20. The index had earlier risen to a high of 1,514.98.
Gainers led losers by 422 to 261, while 732 counters traded unchanged. Trading volume was 5.64 billion shares valued at RM2.96 billion.
The top gainers included Scientex Bhd, Malaysian Pacific Industries Bhd, Nestle (M) Bhd, Hartalega Holdings Bhd, Rubberex Corp Bhd, Top Glove Corp Bhd, Teck Guan Perdana Bhd, Greatec Technology Bhd, ViTrox Corp Bhd and Unisem (M) Bhd.
The actively traded stocks included Lambo Group Bhd, Luster Industries Bhd, Mah Sing Group Bhd, Vsolar Group Bhd, AT Systematization Bhd and Kanger International Bhd.
The decliners included Yinson Holdings Bhd, Petronas Dagangan Bhd, Khind Holdings Bhd, MISC Bhd, Focus Dynamics Group Bhd and SAM Engineering & Equipment (M) Bhd.
Reuters said Asian markets advanced toward a recent 2½-year peak on Monday powered by hopes of a US fiscal package and expectations of a coronavirus vaccine by the end of this year, though weaker-than-expected Chinese data capped gains.
MSCI's broadest index of Asia-Pacific shares outside Japan climbed 0.6% for its second straight day of gains, paring back slightly following third-quarter gross domestic product data from China, it said.
Hong Leong IB Research said the KLCI tumbled 26.6 points week-on-week last Friday as Malaysia embraced a triple whammy crisis following the persistent political wrangling, the rapid Covid-19 outbreak and the economic slowdown.
“Unless staging a swift retake above 50D SMA resistance near 1,530, KLCI’s near term outlook has turned negative, potentially reigniting another selloff towards 1,488-1,474-1,461 territory.
“Sector-wise, major beneficiaries from the ongoing second wave of Covid-19 in Malaysia are gloves, technology, telcos and couriers while sectors most vulnerable appeared to be aviation, retail, F&B, gaming, malls and hotels,” it said.