At 10am, the FBM KLCI was up six points at 1,642.69.
Gainers led losers by 498 to 387, while 357 counters traded unchanged. Trading volume was 1.61 billion shares valued at RM1.11 billion.
The gainers included Malaysian Pacific Industries Bhd, Press Metal Aluminium Holdings Bhd, Public Bank Bhd, UWC Bhd, Euro Holdings Bhd, Toyo Ventures Holdings Bhd, KESM Industries Bhd, Mi Technovation Bhd, KPower Bhd and Pentamaster Corp Bhd.
The actively traded stocks included Iris Corp Bhd, Kanger International Bhd, JCY International Bhd, Avillion Bhd, Melewar Industrial Group Bhd and Inix Technologies Holdings Bhd.
The decliners included Hartalega Holdings Bhd, Rapid Synergy Bhd, Fraser & Neave Holdings Bhd (F&N), Nestle (Malaysia) Bhd, Supermax Corp Bhd, TIME dotCom Bhd, Kossan Rubber Industries Bhd and Top Glove Corp Bhd.
The main index of Bursa Malaysia struggled to hold on to its gains at the midday break today as index-linked glove makers retreated, while broader market sentiment was mixed as investors appeared to have digested clarity of the country’s state of emergency and second movement control order (MCO 2.0) rules.
KUALA LUMPUR (Jan 14): The FBM KLCI closed down 0.98 points or 0.06% at 1,635.71 today while Bursa Malaysia’s Technology Index rose over 3% to become the top percentage gainer among bourse gauges as investors weighed the economic impact of the nation’s reenforced Covid-19-driven Movement Control Order (MCO) across several states and federal territories.
Analysts said the MCO is expected to hurt Malaysia s economic and corporate earnings growth although such restricted-movement policy is also seen as a boon for Bursa-listed technology companies such as semiconductor manufacturers due to anticipation of higher demand for computer-related products.
“I think corporate earnings recovery and economic recovery will be slower over the next one to two quarters,” Inter-Pacific Securities Sdn Bhd head of research Victor Wan told
KUALA LUMPUR (Jan 13): The main index at Bursa Malaysia shrugged off movement control order (MCO) jitters and climbed in early trade Wednesday, with gains led by Public Bank Bhd. At 9.05am, the FBM KLCI rose 14.40 points to 1,626.44. The early gainers included Public Bank, KESM Industries Bhd, Malaysian Pacific Industries Bhd, Pharmaniaga Bhd, UWC Bhd, Hong Leong Bank Bhd. Oriental Interest Bhd, Kuala Lumpur Kepong Bhd, Tenaga Nasional Bhd and LTKM Bhd.
KUALA LUMPUR (Jan 13): The FBM KLCI rose 1.5% or 24.65 points to 1,636.69, lifted by bargain hunting, as measures seen as containing the coronavirus pandemic as well as ensuring political stability were put in place in the form of the second round of the movement control order (MCO 2.0) as well as the proclamation of the state of emergency.
The KLCI closed near its intraday high of 1,637.31, mainly driven by the banking index, with Public Bank Bhd leading the charge.
Public Investment Bank Bhd head of research Ching Weng Jin told The Edge that the market may progressively go higher on anticipation of Covid-19 vaccines and an improved economy.