[ad_1]
KUALA LUMPUR (Nov 24): Bursa Malaysia’s main index bucked the regional trend and remained lackluster mid-morning as concerns over the Budget 2021 vote on Thursday kept local investors on edge.
At 10 a.m. M., The FBM KLCI dropped 5.09 points to 1,592.39.
Market breadth was tepid with 488 losers and 340 winners, while 425 meters were traded unchanged. The trading volume was 2.24 billion shares valued at RM1.09 billion.
The main losers were Petronas Dagangan Bhd, Top Glove Corp Bhd, Carlsberg Brewery Malaysia Bhd, Malaysia Pacific Industries Bhd, Vivocom Intl Holdings Bhd and Scientex Bhd.
Actively traded stocks include Pegasus Heights Bhd, Vivocom, NetX Holdings Bhd, Sapura Energy Bhd, Fintec Global Bhd, Trive Property Group Bhd, and Bumi Armada Bhd.
Among the winners are LPI Capital Bhd, Hartalega Holdings Bhd, Petronas Gas Bhd, Petra Energy Bhd, KESM Industries Bhd and PPB Group Bhd.
Reuters He said Asian stocks opened higher today as progress on the Covid-19 vaccine bolstered global sentiment and U.S. President-elect Joe Biden received the go-ahead to begin his transition to the White House.
The head of the U.S. General Services Administration, Emily Murphy, wrote in a letter to Biden yesterday that she can formally begin the transfer process, it was reported.
JF Apex Securities said that US markets closed in the green following news that former US Federal Reserve (Fed) chair Janet Yellen is expected to be nominated by Biden as Treasury secretary.
Meanwhile, he said European markets ended up mixed amid optimism for vaccines.
“In the local market, the KLCI gained 3.73 points or 0.23% to 1,597.48.
“Following the positive performance posted by Wall Street, the local benchmark could follow suit with its resistance level at 1,615 points,” he said.
[ad_2]
