KUALA LUMPUR (Nov 10): Bursa Malaysia ended the morning session mixed amid uncertainty over the results of the US midterm elections and concerns over China’s ongoing Covid-19 curbs, said a dealer. 

At lunch break on Thursday (Nov 10), the FBM KLCI had gained 4.72 points to 1,450.91, from Wednesday's close at 1,446.19. 

The market bellwether, which opened 3.88 points weaker at 1,442.31, moved between 1,440.76 and 1,453.27 throughout the morning session.

However, on the broader market, decliners led advancers 435 to 288, while 343 counters were unchanged, 1,260 untraded, and 28 others suspended.

Turnover stood at 2.13 billion units valued at RM735.33 million. 

According to Malacca Securities Sdn Bhd, downside risk could return with selling pressure on Wall Street, due to uncertainty over the US midterm election results, while the US consumer price index print may stay elevated and contribute to a selling tone in the near term.

"Commodities-wise, crude oil prices declined further towards the US$92-to-US$93-per-barrel mark, as rising US crude stockpiles, coupled with China's Covid-19 curbs, dampened prices,” it said in a note on Thursday.

With the ongoing uncertainties in place, it said, investors may look out for more defensive sectors, such as telecommunications, real estate investment trusts, and utilities.

"Meanwhile, construction and building material stocks may be put on their radar, ahead of the upcoming 15th general election," it said. 

Among the heavyweights, Dialog Group Bhd trimmed four sen to RM2.00, Hartalega Holdings Bhd rose one sen to RM2.00, Malayan Banking Bhd (Maybank) added two sen to RM8.65, Public Bank Bhd garnered three sen to RM4.43, Petronas Chemicals Group Bhd lifted five sen to RM8.60, and CIMB Group Holdings Bhd improved four sen to RM5.48. 

Of the active stocks, Advance Synergy Bhd grew two sen to 13.5 sen, XOX Bhd pushed up one sen to 2.5 sen, Key Alliance Group Bhd increased half a sen to 1.5 sen, Top Glove Corp Bhd added 3.5 sen to 87.5 sen, and Fintec Global Bhd was unchanged at one sen.

On the index board, the FBM 70 Index was 20.80 points lower at 12,136.44, the FBM Emas Index widened 16.85 points to 10,276.30, the FBMT 100 Index inched up 21.09 points to 10,014.85, the FBM Emas Shariah Index improved 7.05 points to 10,330.79, and the FBM ACE added 105.47 points to 5,037.81. 

Sector-wise, the Financial Services Index perked 66.16 points to 16,327.00, the Industrial Products and Services Index inched up 0.40 of a point to 174.72, the Plantation Index rose 7.94 points to 6,857.50, and the Energy Index slid 10.15 points to 711.48.