After a slight dip in yesterday's trading, the FBM KLCI has continued on its upward trajectory amid growing momentum in global equities.
Helping the rising optimism was Britain approving the roll-out of the Pfizer and BioNTech Covid-19 vaccine next week while New York will be expecting delivery of its first batch of vaccines on Dec 15.
At 12.30pm, the FBM KLCI was up 12.34 points to 1,611.06. Trading activity remained robust with 6.64 billion shares exchanging hands for RM3.18bil.
At 10am, the FBM KLCI had risen 9.38 points to 1,510.87. The index earlier slipped to a low of 1,497.32.
Market breadth was positive with 501 gainers and 296 losers, while 415 counters traded unchanged. Trading volume was 2.19 billion shares valued at RM1.16 billion.
Top declining stocks included KLCI entities Petronas Dagangan Bhd, Public Bank Bhd, Tenaga Nasional Bhd, Petronas Chemicals Group Bhd, and Malayan Banking Bhd (Maybank).
The top gainers included Malaysian Pacific Industries Bhd, PPB Group Bhd, ViTrox Corp Bhd, Supermax Corp Bhd, and Public Bank.
The actively traded stocks included AT Systematization Bhd, Iris Corp Bhd, JCY International Bhd, Lambo Group Bhd, Mah Sing Group Bhd, and Luster Industries Bhd.
Rakuten Trade Sdn Bhd research vice president Vincent Lau told theedgemarkets.com that the drop in the KLCI today might have just been a minor pullback, after a favorable performance throughout the month of November.
"It was probably just the month-end rebalancing of portfolios [by investors]. Market sentiment is still okay, even glove stocks have rebounded.
Globally, it was reported today that world shares paused to assess a record-busting month on Monday as the prospect of a Covid-19 vaccine-driven economic recovery next year and yet more free money from central banks eclipsed immediate concerns about the coronavirus pandemic.
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