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KUALA LUMPUR (Oct 22): Bursa Malaysia’s main index rose in the early hours of trading Thursday as index-linked glove makers rallied to prop up the benchmark index.
At 9.06am, the FBM KLCI added 2.60 points to 1,495.00.
The first winners were Kossan Rubber Industries Bhd, Malaysian Pacific Industries Bhd, Hartalega Holdings Bhd, Supermax Corp Bhd, United Plantations Bhd, Scientex Bhd, Top Glove Corp Bhd, Comfort Gloves Bhd and Rubberex Corp (M) Bhd.
Bloomberg He said US equity futures fell back with Asian stocks and the dollar rose shortly after US intelligence officials said Russia and Iran have tried to interfere in next month’s US presidential elections.
Rakuten Trade in its daily market report said that US markets remained volatile as discussions on stimulus plans continue as elections in the final tranche.
He said the Dow Jones, S&P and Nasdaq were slightly lower after moving between positive and negative territory.
“US futures held low, so regional markets sentiment is likely to be cautious about weak US markets.
“Back in our local market, we expect the bargain hunting to bring the KLCI back to the 1,500 level.
“Therefore, we advise investors to buy the funds and position and focus on stocks related to healthcare, gloves, personal protective equipment (PPE) from masks and small and mid-cap stocks.” , He said.
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