KUALA LUMPUR (Feb 19): The main index at Bursa Malaysia recovered lost ground and climbed at the midday break today, while regional markets pulled back from all-time highs.

At 12.30pm, the FBM KLCI rose 3.28 points to 1,579.12. The index had earlier slipped to a low of 1,573.84.

Market breadth remained cautious with 446 losers and 361 gainers, while 731 counters traded unchanged. Trading volume was a brisk 9.1 billion shares valued at RM3.69 billion.

The gainers included Genetec Technology Bhd, Malaysian Pacific Industries Bhd, Carlsberg Brewery Malaysia Bhd, Unisem (M) Bhd, Batu Kawan Bhd, Nestle (M) Bhd, Mr DIY Group (M) Bhd, Tasco Bhd, Greatech Technology Bhd, Heineken Malaysia Bhd and PPB Group Bhd.

The actively traded stocks included Dagang NeXchange Bhd, ManagePay Systems Bhd, EA Holdings Bhd, Iris Corp Bhd, Key Asic Bhd and Lambo Group Bhd.

The decliners included Hong Leong Bank Bhd, Hengyuan Refining Company Bhd, Hartalega Holdings Bhd, Lii Hen Industries Bhd, Supermax Corp Bhd, ViTrox Corp Bhd, Petron Malaysia Refining & Marketing Bhd and Muda Holdings Bhd.

Reuters said Asian stocks pulled back from all-time peaks on Friday as higher longer-dated bond yields and underwhelming US data dented investor confidence in a faster economic recovery from the Covid-19 pandemic, while gold hit a seven-month trough.

MSCI's broadest index of Asia Pacific shares outside of Japan was last down 0.1% at 733.67 from a record high of 745.89 touched on Thursday, it said.

Hong Leong IB Research said ahead of the ongoing 4Q20 reporting season, KLCI is vulnerable to further consolidation after faltering below major 1,600 and 1,588 (downtrend line from the 1,696 peak) supports, with the technical indicators turning negative again.

“Nevertheless, downside risk could be limited near 1,545-1,561 zones on the back of the Fed’s dovish outlook, huge US stimulus package, falling Covid-19 infections globally, and the planned vaccination programme in Malaysia starting from Feb 26,” it said.