KUALA LUMPUR (Oct 14): The main index at Bursa Malaysia pared some of its losses at the midday break today as index-linked glove makers rose following a surge in new virus cases, against the backdrop of weaker regional markets.

At 12.30pm, the FBM KLCI was down 4.92 points to 1,520.28. The index had earlier slipped to a low of 1,516.10.

Gainers led losers by 327 to 309, while 695 counters traded unchanged. Trading volume was 3.79 billion shares valued at RM3.11 billion.

The decliners included Nestle (M) Bhd, Carlsberg Brewery Malaysia Bhd, Malayan Banking Bhd, Maxis Bhd, My EG Services Bhd, PPB Group Bhd and Cypark Resources Bhd.

The actively traded stocks included Metronic Global Bhd, HLT Global Bhd, AT Systematization Bhd, Kanger International Bhd, Careplus Group Bhd and Advance Synergy Bhd.

The gainers included Malaysian Pacific Industries Bhd, Comfort Gloves Bhd, Kossan Rubber Industries Bhd, Adventa Bhd, Supermax Corp Bhd, Bursa Malaysia Bhd, Top Glove Corp Bhd and Hartalega Holdings Bhd.

Reuters said Asian equities slipped on Wednesday as halted Covid-19 vaccine trials and an impasse in US fiscal aid package talks soured risk appetite, while the greenback held on to gains as demand firmed for safe-harbour assets.

Johnson & Johnson on Tuesday said it was pausing a Covid-19 vaccine trial due to a study participant's unexplained illness, it said.

Hong Leong IB Research said following a successful downtrend line breakout from the year-to-date high of 1,618 (July 29) and barring any pullback below 1,500-1,510 supports, KLCI’s near-term technical outlook has turned increasingly positive, with short-term targets situated at 1,533-1,563 levels.

“Nevertheless, the tug of war between bears and bulls may prevail to cap further rally in the wake of the headwinds ahead such as lingering political uncertainty, surging Covid-19 cases and clusters in Malaysia, the vaccines’ progress and the US presidential election on Nov 3,” it said.