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KUALA LUMPUR (Nov 2): Bursa Malaysia’s leading index remained mediocre as of mid-morning today, following losses in regional markets as Malaysian manufacturing data output and new orders slowed further .
At 10.05am, the FBM KLCI had fallen 4.37 points to 1,462.52.
Market breadth was negative with 613 losers and 171 winners, while 314 counters were traded unchanged. The trading volume was 1.48 billion shares valued at RM658.17 million.
The main losers were Supermax Corp Bhd, Malaysia Pacific Industries Bhd, ViTrox Corp Bhd, Greatech Technology Bhd, Carlsberg Brewery Malaysia Bhd, Top Glove Corp Bhd and Pharmaniaga Bhd.
Actively traded stocks include Lambo Group Bhd, GD Express Carrier Bhd, Luster Industries Bhd, AT Systematization Bhd, Pos Malaysia Bhd, Parkson Holdings Bhd, and Saudee Group Bhd.
Winners included Kuala Lumpur Kepong Bhd (KLK), Chemical Company of Malaysia Bhd, Scientex Bhd, British American Tobacco (Malaysia) Bhd, and TIME dotCom Bhd.
Reuters He said oil prices hit five-month lows and stocks extended their losses today on concerns about global demand as many economies fell back into coronavirus-induced lockdowns, while the upcoming US presidential election The US led to greater caution.
Risk appetite has been affected in the past week by rising new coronavirus cases and closures, fears of the prospect of a highly controversial US presidential election, the absence of a pre-election US fiscal stimulus and a bleak business outlook, he said. .
Rakuten Trade said that Wall Street ended the week on a weak note amid the surge in new Covid-19 cases, coupled with the uncertainty of the US presidential election.
He said the Dow Jones Industrial Average fell another 150 points to hover around the 26,500 mark.
The inquiry said it expects regional markets to see more selling pressure today in the absence of positive catalysts.
“On the home front, the KLCI, which sold pretty badly last Friday, will not recover anytime soon.
“Both internal and external factors may not attract any buying activity at this time.
“Therefore, unless the 1,500[-point level] breaks decisively otherwise, the benchmark is expected to consolidate within the 1,450-1,500 range for now.
“Meanwhile, crude oil prices continued to fall with Brent now below US $ 37 / barrel, while CPO (crude palm oil) prices continued to rise, testing RM3,200 / MT. [level],” He said.
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