KUALA LUMPUR — Bursa Malaysia and most of its regional peers were in positive territory during the morning trading on Wednesday, tracking the optimistic performance of the overnight United States’ stock markets ahead of the fiscal stimulus deadline.
At 9.02am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) added 2.17 points to 1,513.14 from 1,510.97 at Tuesday’s close.
The market barometer opened 1.07 point better at 1,512.04.
Market breadth was positive as gainers thumped losers 271 to 76, while 278 counters were unchanged, 1,542 untraded and 22 others suspended.
Total volume stood at 276.39 million units worth RM97.53 million.
Sharing its market pulse update, brokerage firm Malacca Securities Sdn Bhd said the FBM KLCI is expected to endure a choppy trading session today before succumbing to quick profit taking as investors take in the local political uncertainty, coupled with the selling activities by foreign funds.
“Meanwhile, the stringent measures imposed due to the unabated number of new Covid-19 cases may derail prospects of economic recovery in 2021.
“Likewise, the lower liners and broader market shares may experience quick profit-taking, but the rising trading activities will ensure pockets of trading opportunities over the near term,” it said in a note today.
Sector-wise, the firm expects the utility sector to provide an avenue to cushion the renewed volatility, while the technology sector continues to be in prime position for further upsides as demand remains relatively sturdy.
Of the heavyweights, Maybank gained four sen to RM7.22, Public Bank rose 10 sen to RM15.90, Top Glove was flat at RM9.48 and Hartalega lost 14 sen to RM18.90.
The most active counters were led by Pegasus Heights and DGB Asia which were flat at 2.5 sen and three sen, respectively, while Luster added one sen to 23.5 sen and Impiana was two sen better at 10 sen.
Top gainers included Vitrox, which accumulated 28 sen to RM14.08, while Scientex improved 24 sen to RM12.74 and Greatech was 11 sen higher at RM8.19.
Top losers Hartalega and Sime Darby Plantation lost 14 sen each to RM18.90 and RM4.84 respectively, while Pintaras Jaya shed nine sen to RM2.40.
On the index board, the FBM Emas Index rose 20.47 points to 11,006.11, the FBMT 100 Index improved 16.68 points to 10,793.16 and the FBM Emas Shariah Index added 11.96 points to 13,228.47.
The FBM 70 advanced 27.13 points to 14,591.31 and the FBM ACE surged 37.56 points to 11,030.29.
The Financial Services Index appreciated 54.55 points to 12,466.68, the Industrial Products and Services Index edged up 0.29 of-a-point to 146.87, while the Plantation Index lost 47.28 points to 6,847.38. — Bernama, October 21, 2020
