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KUALA LUMPUR (Oct 15): Bursa Malaysia’s main index had trimmed some of its loss in the midday break as some index-linked bank stocks helped dampen negative sentiment in the local stock market amid global markets weaker.
At 12.30pm, the FBM KLCI was down 3.69 points to 1,519.56. The index previously fell to a low of 1,512.96.
The losers led the winners by 352 to 273, while 704 meters traded unchanged. The trading volume was 3.59 billion shares valued at RM2.75 billion.
The main losers were Fraser & Neave Holdings Bhd (F&N), Rubberex Corp (M) Bhd, Carlsberg Brewery Malaysia Bhd, Supermax Corp Bhd, Kossan Rubber Industries Bhd, Dutch Lady Milk Industries Bhd, Hap Seng Plantations Holdings Bhd, IOI Corp Bhd and Perusahaan Sadur Timah Malaysia (Prestima) Bhd.
Actively traded stocks include Metronic Global Bhd, Luster Industries Bhd, Samaiden Group Bhd, Advance Synergy Bhd, Key Alliance Group Bhd, and Careplus Group Bhd.
The winners were Nestlé (Malaysia) Bhd, Samaiden, Bursa Malaysia Bhd, Scientex Bhd, AME Elite Consortium Bhd, United Plantations Bhd, British American Tobacco (Malaysia) Bhd, CIMB Group Holdings Bhd, Malayan Banking Bhd (Maybank) and Public Bank Bhd .
Reuters He said global stocks fell today as investors made recent gains amid growing concerns about the resurgence of Covid-19 infections and after US Secretary of the Treasury Steven Mnuchin shattered any remaining hope for a stimulus package before the November 3 election.
MSCI’s broader index of Asia-Pacific stocks outside of Japan lost 0.5%, while Japan’s Nikkei fell 0.5%, it said.
Hong Leong Investment Bank (HLIB) Research said that barring any sharp pullback below the 1,500 point support level, the KLCI’s short-term technical outlook had turned slightly positive (with short-term targets at the 1,532-1,564 levels). ) following a successful downtrend. line break from the year-to-date (YTD) high of 1.618.
“However, the tug of war between bears and bulls may linger for a while to limit further rally in the wake of nagging headwinds such as domestic political uncertainties. [new] Covid-19 cases and clusters in Malaysia, the progress of vaccines and the US presidential elections on November 3, ”he said.
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