KUALA LUMPUR (Oct 5): The main index at Bursa Malaysia advanced at midday break Monday, tracking regional gains as index-linked healthcare stocks lifted.

At 12.30pm, the FBM KLCI was up 5.39 points to 1,505.69. The index had earlier slipped to a low of 1,498.81.

The healthcare index rose 2.77% or 107.57 points to 3,992.28.

Gainers led losers by 397 to 242, while 700 counters traded unchanged. Trading volume was 3.65 billion shares valued at RM2.55 billion.

The top gainers included Supermax Corp Bhd, Malaysian Pacific Industries Bhd, G3 Global Bhd, Nestle (M) Bhd, Kossan Rubber Industries Bhd, Kossan Rubber Industries Bhd, UWC Bhd, Rubberex Corp Bhd, Hartalega Holdings Bhd and Top Glove Corp Bhd.

The actively traded stocks included AT Systematization Bhd, Caely Holdings Bhd, XOX Bhd, Ni Hsin Resources Bhd, Advance Synergy Bhd and Careplus Group Bhd.

The decliners included Fraser & Neave Holdings Bhd, Batu Kawan Bhd, Heineken Malaysia Bhd, Malaysia Airports Holdings Bhd, Sime Darby Bhd, Public Bank Bhd, MBM Resources Bhd and Carlsberg Brewery Malaysia Bhd.

Reuters said stock markets rose on Monday on hopes that US President Donald Trump could be discharged from hospital later in the day, easing some of the political uncertainty that shook global bourses in the previous session.

Trump, 74, was flown to hospital for treatment for the coronavirus on Friday, but his doctors say he has responded well and could return to the White House on Monday, it said.

Hong Leong IB Research said the bulls attempted to push the KLCI above the 1,518 resistance (downtrend line from 1,618) in the last few days but buying momentum could not be sustained as concerns over a liquidity squeeze on the stock market after the expiry of the six-month grace period for loan repayments on Sept 30 coupled with soaring coronavirus cases, which surged 109% week-on-week to 1,462 cases with the highest single-day record of 317 cases on Oct 3, and clusters locally.

“Hence, market sentiment should worsen in the short term (supports 1,474-1,488; resistances 1,506-1,525) amid concerns of [more areas being placed under targeted enhanced movement control order], which would adversely affect the green shoots of the country’s economic recovery.

“On stock selection, rubber glove and personal protective equipment stocks should be attractive for short-term trading amid virus resurgence worries,” it said.