KUALA LUMPUR (Nov 2): The main index of Bursa Malaysia remained lacklustre in the mid-morning today, tracking losses in regional markets, as Malaysian manufacturing data output and new orders slowed to greater extents.

At 10.05am, the FBM KLCI had fallen 4.37 points to 1,462.52.

Market breadth was negative with 613 losers and 171 gainers, while 314 counters traded unchanged. Trading volume was 1.48 billion shares valued at  RM658.17 million.

The top losers included Supermax Corp Bhd, Malaysian Pacific Industries Bhd, ViTrox Corp Bhd, Greatech Technology Bhd, Carlsberg Brewery Malaysia Bhd, Top Glove Corp Bhd and Pharmaniaga Bhd.

The actively traded stocks included Lambo Group Bhd, GD Express Carrier Bhd, Luster Industries Bhd, AT Systematization Bhd, Pos Malaysia Bhd, Parkson Holdings Bhd and Saudee Group Bhd.

The gainers included Kuala Lumpur Kepong Bhd (KLK), Chemical Company of Malaysia Bhd, Scientex Bhd, British American Tobacco (Malaysia) Bhd and TIME dotCom Bhd.

Reuters said oil prices hit five-month lows and shares extended losses today on worries about global demand as many economies slid back into coronavirus-induced lockdowns, while the upcoming US presidential election led to heightened caution.

Risk appetite has taken a hit in the past week on the back of rising new coronavirus cases and lockdowns, fears of the prospect of a tightly contested US presidential election, absence of a pre-election US fiscal stimulus and a gloomy corporate outlook, it said.

Rakuten Trade said Wall Street ended the week on a weak note amid rising new Covid-19 cases, coupled with US presidential election uncertainty.

It said the Dow Jones Industrial Average dropped a further 150 points to hover around the 26,500 mark.

The research said it expects regional markets to see more selling pressure today in the absence of any positive catalysts.

“On the local front, the KLCI, which was sold down rather badly last Friday, will not rebound anytime soon.

“Both internal and external factors may not attract any buying activities at the moment.

“Therefore, unless the 1,500[-point level] is broken decisively otherwise, the benchmark index is expected to consolidate within the 1,450-1,500 range for now.

“Meanwhile, crude oil prices continued to drop with the Brent now at below the US$37/barrel, while CPO (crude palm oil) prices continued to climb, testing the RM3,200/MT [level],” it said.