[ad_1]
KUALA LUMPUR (Nov 3): Bursa Malaysia’s leading index fell today at noon amid some volatile trading ahead of the Bank Negara Malaysia (BNM) monetary policy statement later in the afternoon, as well as the presidential election of US weeks.
Investors are also preparing for the presentation of the Budget 2021 on November 6, as well as for the publication of the GDP report for the third quarter of 2020 by BNM on November 13, while the increase in coronavirus cases also kept investors on edge.
At 12.30 pm, the FBM KLCI fell 3 points to 1,463.46.
The winners led the losers by 454 to 235, while 626 counters were traded unchanged. The trading volume was 3.97 billion shares valued at RM1.91 billion.
The main losers were Nestlé (M) Bhd, Greatech Technology Bhd, Fraser & Neave Holdings Bhd, Nationwide Express Holdings Bhd, Kuala Lumpur Kepong Bhd, Sime Darby Bhd and Pos Malaysia Bhd.
Actively traded stocks include GD Express Carrier Bhd, XOX Bhd, Mah Sing Group Bhd, Vortex Consolidated Bhd, Luster Industries Bhd, Lambo Group Bhd, and Iris Corp Bhd.
Winners included Carlsberg Brewery Malaysia Bhd, Malaysia Pacific Industries Bhd, Petronas Dagangan Bhd, Lii Hen Industries Bhd, ViTrox Corp Bhd, Scientex Bhd, Bursa Malaysia Bhd, and Genting Plantations Bhd.
Bloomberg He said Asian stocks rose in a volatile start to a crucial week that spanned the US elections and a Federal Reserve policy meeting, events that could set the tone for financial markets for the rest of the year.
Oil fell to a five-month low, he said.
Hong Leong IB Research said that despite a welcome technical bounce from KLCI to cut initial losses and finish unchanged yesterday, there is no change in its near-term consolidation vision.
“We continue to expect more volatility this week ahead of the BNM meeting (November 3), the US elections and the presentation of the 2021 budget (November 6), as well as the technically bearish pattern from Head & Shoulder (H&S).
“Key supports are 1,450-1,428-1,413, while resistances are at 1,474-1,491-1,504 levels,” he said.
[ad_2]
