Bursa would possibly see spillover from US tech slide

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KUALA LUMPUR: Traders have their eyes skilled on the company earnings season amid rising considerations on the worldwide entrance over a resurgence Covid-19 instances.

Wall Avenue placed on a weak efficiency in a single day as know-how shares have been pushed decrease by rising bond yields, which might have a adverse impression on Bursa Malaysia.

“We might anticipate the promoting stress to spillover on the native entrance, particularly hitting the know-how shares,” mentioned Melaka Securities Analysis.

The brokerage additionally famous that international funds have been promoting native equities over the previous two buying and selling days, which might additional dampen investor sentiment.

At 9.15am, the FBM KLCI was up 3.93 factors ot 1,530.8, staying caught inside a consolidation section because the Q3 earnings season rolled on.

A constructive earnings shock by Petronas Chemical substances yesterday noticed the petrochemicals counter rising three sen to RM8.33.

It was joined by Tenaga Nasional including 4 sen to RM9.54 in addition to some financial institution shares together with CIMB rising 4 sen to RM5.20, Maybank up one sen to RM8.15 and Public Financial institution gaining one sen to RM4.08.

Maxis was additionally on the advance, rising 5 sen to RM4.59, and Digi including two sen to RM4.28.

On the know-how index, equities tracked the weaker US Nasdaq efficiency in a single day however remained at multi-year highs at 100.45 factors.

Amongst some main laggards, KESM slipped 38 sen to RM14.04, Elsoft dropped two sen to RM1.03 and D&O was personal three sen to RM5.89.

Prime actives on Bursa Malaysia have been YBS up 4.5 sen to 62.5 sen, Tanco unchanged at 27 sen and Iconic rising 0.5 sen to 38 sen.



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