KUALA LUMPUR (Oct 23): The main index at Bursa Malaysia was poised to close flat week-on-week at the midday break today, while regional markets were mixed.

At 12.30pm, the FBM KLCI added 1.49 points to 1,500.29. Last Friday, the index ended at 1,503.84.

Losers edged gainers by 328 to 313, while 736 counters traded unchanged. Trading volume was 2.83 billion shares valued at RM1.76 billion.

The top gainers included ViTrox Corp Bhd, JF Technology Bhd, Mi Technovation Bhd, Public Bank Bhd, Malaysia Airports Holdings Bhd, Fraser & Neave Holdings Bhd, MISC Bhd, UWC Bhd and Allianz Malaysia Bhd.

The actively traded stocks included Iris Corp Bhd, Diversified Gateway Solutions Bhd, Daya Materials Bhd and Hiap Teck Venture Bhd.

The decliners included Nestle (M) Bhd, Carlsberg Brewery Malaysia Bhd, PPB Group Bhd, Maxis Bhd, Duopharma Biotech Bhd, Kossan Rubber Industries Bhd, Cypark Resources Bhd and Prestariang Bhd.

Bloomberg said Asian stocks and US equity futures were mixed and Treasury yields were little changed as traders took the final presidential debate in their stride and lawmakers in Washington continued to haggle over a spending bill.

On Bursa Malaysia, Inter Pacific Research Sdn Bhd in a 4Q2020 strategy note today said there will be continuing volatility over the near to medium term with the lingering push and pull factors dictating equity market movements until the end of the year.

It said even with the increased market volatility, equities were expected to hold up for the most part, sustained by ample global liquidity levels as well as the availability of Covid-19 vaccines that could bolster sentiments, going forward.

“Bursa Malaysia’s outlook remains fluid, in our opinion, and this could see the key index lingering within a tight band and around the psychological 1,500 points level as it attempts to build up a base.

“While the downside bias is still present, the 1,450-1,460 levels should provide support, with the upsides potentially topping out at 1,550-1,580. At those levels, the FBM KLCI would be trading at 16x-17x forward PERs, within its forward averages,” it said.