The Malaysian bourse opened high for an instant this morning before sliding down as some investors are still taking a cautious stance on the global economic outlook even though confidence in the Covid-19 vaccine has contributed to the market as much as support, said a trader.
At 9:15 a.m., the FTSE Bursa Malaysia KLCI (FBM KLCI) level marker index relieved 0.88 eyes to 1,588.81 after opening 3.66 eyes higher at 1,593.35.
Bernama reports, profit shares overcame losses with 403 reciprocating 245 while 382 counters remained unchanged, 1,134 were not traded and 19 others were hanged.
Total merchandise was 1.71 billion worth RM465.69 million.
According to Malacca Securities Sdn Bhd, the third consecutive day of inflows of foreign funds into the local market this past week will continue to help provide support to any weakness in this nearest period.
"Data on Country Rough Country Output (KDNK) for the 2020 third ethnic group which is stronger than expectations has boosted the KLCI FBM to recover from its day's loss on Friday.
"With the buying momentum not yet diminishing, the upward movement can still be seen on the next obstacle level from 1.6 to 1.615 while support is immediately set at 1.540, followed by 1.520," he said in a note today.
Meanwhile, the investigating firm shares the opinion that with the presidency of the Serantau Comprehensive Economic Partnership Agreement (RCEP), it is a good sign for Malaysia and the 14 accompanying countries as this agreement will strengthen trade between these countries.
"Moving forward, investors will provide a foundation for the announcement of income achievements by several corporate companies, which are thought to record a recovery from between tribes and tribes," he said.
In high-net worth shares, Maybank was down five cents at RM7.88, Public Bank was down six cents at RM17.70, TNB was down two cents at RM11.30, Top Glove was 10 cents lower at RM7.68, and Petronas Chemicals slumped three cents to RM6.75.
The smartest stocks were AT Systematization up 3.5 cents to 29 cents, Metronic Global and Nexgram increased half a cent to 17.5 cents and 6.5 cents, respectively, while MTouch added 1.5 cents to 8.5 cents.
On the index board, the FBM Gold Index increased by 4.21 points at 11,414.20, the Shariah FBM Gold Index rose 3.88 points at 13,330.91, the FBMT 100 Index increased by 1.33 points to 11,205.37, FBM 70 confirmed 31.49 points at 14,654.47, and the FBM ACE increased by 61.49 points at 11,286.24.
By sector, the Industrial Products and Services Index gained 0.35 points to 156.87, the Agriculture Index fell 8.61 points to 7,295.59 and the Financial Services Index rose 2.75 points to 13,570.76.
