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KUALA LUMPUR (Jan 11): Bursa Malaysia’s main index started the week cautiously as investors weighed in on Prime Minister Tan Sri Muhyiddin Yassin’s impending announcement later in the day regarding the still high coronavirus numbers at the country.
Yesterday, Malaysians were told to stop spreading unverified information about speculation about the possible re-implementation of the Movement Control Order (MCO).
Chief Minister (Security Group) Datuk Seri Ismail Sabri Yaakob said that sharing such rumors on social media would only lead to situations such as panic buying.
At 9.05am, the FBM KLCI fell 8.95 points to 1.624.24.
The first to decline were CN Asia Corp Bhd, Nestlé (M) Bhd, Carlsberg Brewery Malaysia Bhd, Greatec technology Bhd. Malayan Banking Bhd, Tenaga Nasional Bhd, Aeon Credit Service (M) Bhd and UWC Bhd.
Bloomberg He said the dollar rose on Monday and Asian stocks were mixed as traders weighed President-elect Joe Biden’s promise to spell out huge US economic aid to counter the impact of the growing pandemic.
Rakuten Trade said US stocks closed higher after a volatile session as traders await another stimulus package amid disappointing US labor data.
He said the Dow Jones Industrial Average rose 57 points to close almost at the 31,100 mark, while the Nasdaq ended the session at an all-time high around the 13,200 level.
“Nonetheless, we expect regional markets to mix today in light of the unpredictable Wall Street.
“At home, we expect the FBM KLCI to experience some weaknesses today amid the increase in Covid-19 cases.
“Therefore, we expect the benchmark to trend down today, potentially testing the 1,620 / 25 levels.
“On a more positive note, crude oil prices continue to rise with Brent now hovering above US $ 56 / barrel,” he said.
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