KUALA LUMPUR (Sept 9): The FBM KLCI stayed rooted below the 1,500-point level in the mid-morning, tracking regional markets and US futures roiled due to concerns over a delay in the development of a Covid-19 vaccine.

At 10am, the KLCI was down 23.06 points at 1,496.24 as most indices on Bursa Malaysia traded in the red, with the healthcare gauge being the worst hit.

Losers thumped gainers by 833 to 117, while 266 counters traded unchanged. Trading volume was 2.38 billion shares valued at RM1.22 billion.

The top losers included Kossan Rubber Industries Bhd, Malaysian Pacific Industries Bhd, Petronas Dagangan Bhd, Nestle (Malaysia) Bhd, Panasonic Manuacturing Malaysia Bhd, Batu Kawan Bhd and Hartalega Holdings Bhd.

The actively traded stocks included XOX Bhd, Lambo Group Bhd, Priceworth International Bhd, Evergreen Fibreboard Bhd, Borneo Oil Bhd and Vsolar Group Bhd.

The gainers included Kuala Lumpur Kepong Bhd, GETS Global Bhd, KLCC Property Holdings Bhd, Apex Healthcare Bhd and United Malacca Bhd.

Bloomberg said Asian stocks opened lower and US futures retreated amid worries that a Covid-19 vaccine could be delayed and concerns about equity valuations.

The US dollar and Treasuries extended gains, it reported.

JF Apex Securities Research said US market tumbled overnight as a selldown in technology stocks continued, coupled with disappointing coronavirus vaccine news.

It said that earlier, European stocks declined following a bearish performance of technology counters.

“On the local market, the FBM KLCI reversed intraday losses to gain 2.94 points to 1,519.32 points.

“Following the negative performances in the US and Europe, the FBM KLCI could remain pressured and retest the support at 1,510 points,” it said.