[ad_1]
KUALA LUMPUR (Oct 26): Bursa Malaysia’s main index got off to a quiet start today in line with regional markets as local investors assimilated the implications of Agong’s rejection to the prime minister’s attempt to seek the emergency declaration, while MR DIY Group (M) Bhd made an impressive debut in the main Bursa market.
At 9:10 a.m. M., The FBM KLCI had lost 1.85 points to 1,492.79.
The first to decline were Mi Technovation Bhd, Carlsberg Brewery Malaysia Bhd, Petronas Chemicals Group Bhd and Bursa Malaysia Bhd.
Recently listed MR DIY was up 16 sen to RM1.76, with 117.98 million shares traded.
Bloomberg He said U.S. equity futures started the week off the back foot as a U.S. stimulus deal remained elusive and coronavirus infections hit a record for the second day.
Asian stocks posted modest gains, it reported.
Rakuten Trade in its daily market report said that Covid-19 is destined to dominate trading activities as the world is seeing a surge in numbers while traders are sidelined on Wall Street.
He said that the Dow Jones Industrial Average closed flat at around the 28,300 level, while futures had weakened by more than 100 points at the time of writing.
“Therefore, we believe that regional markets will be mixed, but the local stock should see some rally today.
“We expect the KLCI to trend higher today as many breathe a sigh of relief in avoiding the proposed emergency.
“As such, we expect the KLCI to trend above the 1500 mark today, but [the uptrend] it may be limited by regional volatility, ”he said.
[ad_2]
