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KUALA LUMPUR (Nov 12): The FBM KLCI closed eight points or 0.51% at 1,578.08 during Bursa Malaysia’s afternoon break today after erasing losses as global investors weigh the prospect of the imminent availability of a Covid- 19 and while forecasting the magnitude of the outbreak’s impact on the world economy.
In Bursa at 12:30 pm, 9.9 billion securities were traded for RM2.96 billion.
The KLCI erased losses at 12:30 pm after falling to its lowest level yet at 1,558.71 points.
Globally, Asian stocks were reported to have risen to a more than two-year high on Thursday, fueled by sustained global stimulus efforts and hopes for a coronavirus vaccine, but some analysts warned of the risk of a correction. downward.
The gains in Asia stocks were reported to have come after a mixed performance for US stocks, as investors turned back to tech stocks and away from economically sensitive sectors weighing progress in the Covid-19 vaccine and the likely moment of an economic rebound.
“The markets are waiting for more news on the virus, so it is difficult for investors to sell stocks short,” Reuters cited Daiju Aoki, regional investment director for Japan at UBS Securities, citing.
Meanwhile, Called reported that across Bursa today, the winners defeated the losers with 666-434 respectively.
Among heavyweights, Maybank pocketed eight sen at RM7.77, Public Bank gained six sen at RM17.74, and Petronas Chemicals and IHH Healthcare added two sen each at RM6.57 and RM5.47 respectively.
Tenaga held steady at RM11.34, but Top Glove lost 13 sen to RM7.73 and Hartalega fell 20 sen to RM15.30.
Among active stocks, AT Systematization fell 2.5 sen to 24.5 sen, Metronic rose six sen to 14.5 sen, Lambo was stable at four sen and EA Holdings fell half a sen to three sen.
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