.JPG "An investor monitors the stock prices in the gallery of the RHB Investment Bank Bhd headquarters in Kuala Lumpur March 17, 2020. u00e2u20acu2022 Picture by Hari Anggara")
KUALA LUMPUR, Oct 2 — Bursa Malaysia was mixed at lunch break amid muted trading in the regional markets, as China, Hong Kong, Taiwan and South Korea’s markets were closed for the holiday today.
Meanwhile, buying momentum emerged in selected heavyweights and blue chip counters, led by the healthcare, utilities and plantation sector.
At 12.30pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 3.39 points to 1,500.16 from yesterday’s close of 1,496.77.
It moved between 1,489.66 and 1,501.85 throughout the morning trading session, after opening 1.93 point lower at 1,494.84.
However, on the broader market, losers edged past gainers 436 to 420, while 408 counters were unchanged, 833 untraded and 22 others suspended.
Total volume stood at 2.64 billion shares worth about RM1.72 billion.
AxiCorp chief global market strategist Stephen Innes expects the local bourse to trade range-bound ahead of the weekend, pending news on the United States’ (US) stimulus deal which would likely provide global stock market directions.
“This week is a tough one as we sit precariously perched waiting for news on the US stimulus deal, and of course, the US non-farm payroll,” he told Bernama.
Innes also believed that investors are very reluctant to give up on their overall bullish bias, even when the positive drivers such as the ultra-dovish US Fed, the prospect for vaccines and new fiscal stimulus remain questionable.
Meanwhile, Oanda’s senior market analyst for Asia Pacific, Jeffrey Halley said the oil markets whipsawed again with Brent crude falling by one per cent to US$40.52 a barrel, and WTI easing by 1.08 per cent to US$38.30 a barrel.
“Oil's upside is always likely to be limited, as fears rise about the global consumption picture and from rising Oprc+ production,” he said.
Meanwhile, among the heavyweights, Maybank erased six sen to RM7.12, Public Bank decreased 12 sen to RM15.66, while healthcare-linked stocks Top Glove and Hartalega advanced 18 sen and 72 sen to RM8.61 and RM16.98, respectively.
Of the actives, XOX and Kanger International added half-a-sen each to 12 sen and 15 sen, respectively, while Bintai Kinden and Iris Corp were flat at 66.5 sen and 32.5 sen, respectively.
On the index board, the FBM Emas Index appreciated 24.95 points to 10,823.57 and the FBM Emas Shariah Index bagged 64.31 points to 12,916.88.
The FBM 70 gained 34.52 points to 14,186.17, the FBMT 100 Index improved 24.54 points to 10,647.01, while the FBM ACE increased 219.77 points to 10,0078.58.
Sector-wise, the Financial Services Index declined 49.36 points to 12,387.33, the Plantation Index weakened 14.51 points to 6,900.98 and the Industrial Products and Services Index was 0.22 of-a-point lower at 137.31. — Bernama
