KUALA LUMPUR, Dec 21 — Bursa Malaysia’s main index stayed in the red at mid-morning as concerns over the global economic recovery comes under the spotlight after new Covid-19 strains were found in the United Kingdom.

As at 11am, the main index FBM KLCI eased by 3.04 points to 1,652.49 compared with Friday’s close of 1,652.49.

At the opening bell, the index was down 3.64 points to 1,648.85.

The overall market breadth took a negative turn as losers overtook gainers 594 to 427, while 422 counters were unchanged, 696 untraded and 19 others suspended.

Volume stood at 3.26 billion units worth RM1.31 billion.

An analyst said while many countries, including Malaysia, have eased restrictions on economic activities and travel, market observers are still concerned over the prospects of an overall market rebound in 2021.

“Currently, it’s a bet. Right now we can see that global markets are already taking a hit from the new strains of Covid-19 cases in London, which had dampened the market in terms of vaccine developments.

“Many countries around the world have managed to secure part of the vaccination, but with the new strain developing, economies are worried that the vaccine is not enough to address the global health crisis,” she said.

Meanwhile, among the heavyweights, Hartalega and Top Glove rose by 16 sen and four sen to RM12.52 and RM6.68, respectively, while PPB and Hong Leng both shed six sen to RM18.56 and RM18.52, respectively.

Of the actives, JAG rose 2.5 sen to 27 sen, while Nexgram and Vsolar were flat at 5.0 sen and 4.5 sen, respectively.

On the index board, the FBM Emas Index was 13.96 points lower at 11,876.53, the FBMT 100 Index slipped 17.28 points to 11,632.77, the FBM Emas Shariah Index declined 19.31 points to 13,315.16, the FBM 70 dropped 20.75 points to 15,197.85, while the FBM ACE added 13.32 points to 10,460.97.

Meanwhile, the Industrial Products and Services Index added 0.27 of-a-point to 175.22, while the Plantation Index slid 16.60 points to 7,333.2, and the Financial Services Index eased 19.69 points to 15,405.31. — Bernama