KUALA LUMPUR (Nov 30): The main index of Bursa Malaysia rose in the mid-morning today, and was already up more than 140 points for November.

At 10am, the FBM KLCI was up 3.55 points at 1,611.14.

Gainers led losers by 575 to 324, while 426 counters traded unchanged. Trading volume was 2.33 billion shares valued at RM1.11 billion.

The gainers included Hong Leong Bank Bhd, KESM Industries Bhd, Petronas Gas Bhd, Carlsberg Brewery Malaysia Bhd, Nestle (Malaysia) Bhd, Fraser & Neave Holdings Bhd (F&N), Hengyuan Refining Company Bhd, JF Technology Bhd and United Plantations Bhd.

The actively traded stocks included AT Systematization Bhd, Sapura Energy Bhd, Bintai Kinden Corp Bhd, Vivocom Intl Holdings Bhd, Advance Synergy Bhd, Kanger International Bhd, TDM Bhd and KNM Group Bhd.

The decliners included Petronas Dagangan Bhd, Khind Holdings Bhd, GETS Global Bhd, CIMB Group Holdings Bhd, Kobay Technology Bhd, Greatech Technology Bhd and Pintaras Jaya Bhd.

Reuters said world shares are set to seal a record-busting month today as the prospect of a vaccine-driven global economic recovery next year and yet more free money from central banks eclipse concerns about the Covid-19 pandemic in the near term.

The rush to risk has also benefited oil and industrial commodities, while undermining the safe-haven US dollar and gold, it said.

Inter-Pacific Research Sdn Bhd said with sentiments largely intact, the broadly positive market conditions are likely to remain, which could help to shore up the KLCI at the start of the week.

The research house said it also sees the market supported by bouts of month-end window-dressing activities that should leave the key index in positive territory for the year, much of it riding on the firming market undertone as potential Covid-19 vaccines are nearer to being introduced.

“However, after strong gains over the past month, further upside may become more measured as short-term catalysts are scant following the end of the results reporting season.

“With gains likely to be milder, the resistance [levels] are at 1,612 and the 1,618-1,620 levels over the near term, followed by the 1,626 level.

‘The immediate support is at the 1,600-point level, followed by the 1,590 level,” it said.

Inter-Pacific said most lower liners and broader market shares were still on a broadly consolidation trend and despite a continuing increase in market participation, "we think that the sideway trend could persist".

“This may not be detrimental as it could allow these stocks to build up a base for a potential year-end rally as market sentiments are still showing signs of improvement,” it said.