KUALA LUMPUR (Nov 5): The main index of Bursa Malaysia rose 0.96% in the mid-morning today as regional markets jumped on early US election results.

At 10.10am, the FBM KLCI had risen 14.16 points to 1,478.77.

Market breadth was firmly positive with 630 gainers and 192 losers, while 366 counters traded unchanged. Trading volume was 1.81 billion shares valued at RM909.65 million.

The gainers included Heineken Malaysia Bhd, Fraser & Neave Holdings Bhd (F&N), Carlsberg Brewery Malaysia Bhd, Malaysian Pacific Industries Bhd, ViTrox Corp Bhd, GETS Global Bhd, Petronas Gas Bhd, Hong Leong Financial Group Bhd and Petronas Dagangan Bhd.

The actively traded stocks included Vsolar Group Bhd, AT Systematization Bhd, Berjaya Corp Bhd, Iris Corp Bhd, Vivocom Intl Holdings Bhd, Lambo Group Bhd, Borneo Oil Bhd, Kanger International Bhd and UCrest Bhd.

The decliners included Bintulu Port Holdings Bhd, Latitude Tree Holdings Bhd, PPB Group Bhd and Top Glove Corp Bhd.

Reuters said Asian shares jumped today as investors cheered early US election results that pointed to a government less likely to impose tough financial regulations, while sterling fell on reports that the Bank of England (BoE) may ease policy more than expected.

The gains tracked those on Wall Street overnight, when financial markets mostly shrugged off the uncertainty that came with a nail-bitingly close contest between US President Donald Trump and his Democratic rival Joe Biden, it said.

Inter-Pacific Research Sdn Bhd said the KLCI regained further ground yesterday, though it ended the day with modest gains after a late selldown of Top Glove Corp Bhd that trimmed the day’s upside.

Still, the research house said it was a positive day with gainers well ahead of losing stocks as bargain-hunting activities picked up their pace in tandem with the positivity surrounding most global indices.

It said expectedly, lower liners and broader market shares made significant headway as retail players re-engaged in trading activities, helping to also shore up the day’s total trade.

“With global markets still gaining ground, we see the KLCI remaining on the mend for longer as more market players look set to make a return, taking advantage of improved market sentiments to bargain-hunt for some of the recently beaten-down index heavyweights.

“This would also allow the key index to temporarily cast aside lingering Covid-19 concerns as well as uncertainties over Budget 2021 that will be tabled tomorrow.

“The sustained gains could also allow the key index to retest the 1,470-1,480 levels, but we think the 1,500-point level will be elusive for the time being. On the downside, the immediate support [level] is at 1,460, followed by the psychological 1,450 level,” it said.