KUALA LUMPUR (Dec 2): The main index of Bursa Malaysia pared some of its loss before the midday break today, while regional markets gave up their early gains.
At 12.30pm, the FBM KLCI was down 3.79 points at 1,598.47. The index earlier slipped to a low of 1,592.93.
Gainers led losers by 395 to 335, while 828 counters traded unchanged. Trading volume was 5.05 billion shares valued at RM2.68 billion.
The top losers included Petronas Dagangan Bhd, Petronas Gas Bhd, PPB Group Bhd, Kuala Lumpur Kepong Bhd (KLK), Hong Leong Industries Bhd, QL Resources Bhd, IHH Healthcare Bhd and Axiata Group Bhd.
The actively traded stocks included AT Systematization Bhd, Lambo Group Bhd, XOX Bhd, Parkson Holdings Bhd. Sanichi Technonoly Bhd and Vsolar Group Bhd.
The gainers included Malaysian Pacific Industries Bhd, UWC Bhd, KESM Industries Bhd, GETS Global Bhd, Nestle (Malaysia) Bhd, Unisem (M) Bhd and Amtel Holdings Bhd.
Reuterssaid Asian shares shed early gains from a strong Wall Street lead today as some investors booked profits on a stellar run to record highs, but hope for additional US economic stimulus and a coronavirus vaccine kept market sentiment well supported.
MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.06%, pulling back from last week's all-time high. Australian stocks erased early gains and fell 0.38%, it said.
Hong Leong Investment Bank (HLIB) Research said in the wake of the Dow’s record closing overnight and expectations of December window dressing (the KLCI grew 3.8% on average in December from 1990 to 2019), coupled with promising Covid-19 vaccine trial results, the KLCI is expected to resume its upward trajectory towards the 1,618-1,636 zones.
“Nevertheless, market volatility may persist (with key support levels at 1,594-1,579-1,555) due to concerns over the conditional movement control order's (CMCO) impact on our economy amid elevated Covid-19 cases and clusters,” it said.