KUALA LUMPUR (May 20): The FBM KLCI clawed back at the midday break and moved into the positive territory on robust trading volume, against the backdrop of weaker regional markets, while healthcare-related stocks on Bursa Malaysia dominated the gainers list.

At 12.30pm, the FBM KLCI was up 1.42 points to 1,425.39. The index had earlier slipped to a low of 1,420.18.

The Healthcare Index rose 3.08% or 56.06 points to 1,877.31.

Gainers led losers by 315 to 299, while 576 counters traded unchanged. Trading volume was a robust 3.82 billion shares valued at RM1.91 billion.

The gainers included Pharmaniaga Bhd, Supermax Corp Bhd, United Plantations Bhd, Comfort Gloves Bhd, Time dotCom Bhd, Mega First Corp Bhd, Hartalega Holdings Bhd, Rubberex Corp Bhd, Malaysian Pacific Industries Bhd and Greatech Technology Bhd.

The actives included Bumi Armada Bhd, Sapura Energy Bhd, Rimbunan Sawit Bhd, KNM Group Bhd, TDM Bhd, Eduspec Holdings Bhd, Careplus Group Bhd, Icon Offshore Bhd and Hibiscus Petroleum Bhd.

The decliners included Nestle (M) Bhd, Fraser & Neave Holdings Bhd, Heineken Malaysia Bhd, Hong Leong Financial Group Bhd, Carlsberg Brewery Malaysia Bhd, Bintulu Port Holdings Bhd, Dutch Lady Milk Industries Bhd, Bursa Malaysia Bhd and Syarikat Takaful Malaysia Keluarga Bhd.

Reuters said most Southeast Asian stock markets slipped on Wednesday, tracking overnight losses on Wall Street, as investors refrained from making big bets after doubts were cast over a recent early-stage trial of a coronavirus vaccine.

Data from a small, early-stage safety trial testing Moderna Inc's experimental Covid-19 vaccine does not provide the critical data needed to assess its effectiveness, health-focused Stat News reported on Tuesday, citing experts, it said.

Kenanga IB Research said Asian stocks ended higher yesterday on hopes of a potential vaccine after a positive development from the Moderna trial.

It said back home, the FBM KLCI rose 13.81 points or 0.98% to finish at 1,423.97.

“Following the formation of a 'Golden Cross', the index continues to be in an attempt to close the gap that was opened during the mid-March market meltdown.

“On the chart, our resistance-turned-support levels stand at 1,400 (S1) and 1,360 (S2).

“On the upside, our resistance levels are raised to 1,460 (R1) and 1,500 (R2),” it said.