[ad_1]
KUALA LUMPUR (Nov 26): Bursa Malaysia’s main index fell back in early trading Thursday in line with the pause in regional markets and ahead of the Budget 2021 vote in Parliament.
At 9:05 a.m. M., The FBM KLCI fell 3.05 points to 1594.53.
The first declines included Public Bank Bhd, Vivocom Intl Holdings Bhd, Adventa Bhd, Euro Holdings Bhd, Press Metal Aluminum Holdings Bhd, UEM Edgenta Bhd and Greatech Technology Bhd.
Bloomberg He said the rally that propelled global stocks to all-time highs this month showed signs of stagnation after disappointing US economic data.
The dollar was losing, he said.
Rakuten Trade in its daily market report said that Wall Street fell back as traders made a profit before the Thanksgiving holiday.
He said that while the Dow Jones Industrial Average fell 170 points below the 29,900 level, the technology-heavy Nasdaq finished in positive territory near its all-time high.
The research house said that regionally, equity markets appear to be mixed today after a decent performance of late.
“On the home front, the FBM KLCI is expected to be flat today with 1,600 as immediate resistance despite the positive news on the Budget 2021.
“Meanwhile, the price of crude palm oil (CPO) remains well above the level of RM3,000 / metric ton and if this continues, the month of November will be the strongest so far this year for the CPO.
“As for rubber gloves, we believe that prices will be volatile dictated by tug of war developments between vaccine news and the increase in Covid cases,” he said.
[ad_2]
