KUALA LUMPUR (Nov 4): The main index of Bursa Malaysia pared some of its gains before the midday break today as regional markets swung between losses and gains, with a close US presidential race keeping investors on tenterhooks.

At 12.30pm, the FBM KLCI was up 7.36 points at 1,468.81. The index earlier rose to a high of 1,473.53.

Market breadth stayed positive with 519 gainers and 177 losers, while 643 counters traded unchanged. Trading volume was 4.34 billion shares valued at RM1.69 billion.

The gainers included Nestle (Malaysia) Bhd, Carlsberg Brewery Malaysia Bhd, Heineken Malaysia Bhd, Dutch Lady Milk Industries Bhd, Kuala Lumpur Kepong Bhd (KLK), Malaysian Pacific Industries Bhd, Jaycorp Bhd, MBM Resources Bhd, Malaysia Airports Holdings Bhd (MAHB) and GETS Global Bhd.

The actively traded stocks included AT Systematization Bhd, Lambo Group Bhd, Key Alliance Group Bhd, XOX Bhd, GD Express Carrier Bhd, Luster Industries Bhd and Borneo Oil Bhd.

The decliners included KESM Industries Bhd, ViTrox Corp Bhd, Ipmuda Bhd, PMB Technology Bhd and Kumpulan Fima Bhd.

Reuters said share markets swung between losses and gains in wild Asian trading today as results of the US presidential election proved far closer than polls had predicted, leaving the outcome utterly in doubt.

Investors initially wagered that a possible Democratic sweep by Joe Biden could ease political risk while promising a huge boost to fiscal stimulus, it said.

Hong Leong Investment Bank (HLIB) Research continued to expect further volatility this week ahead of the US election result and tabling of Budget 2021 on Friday (Nov 6) as well as the ongoing November reporting season.

“Moreover, more targeted lockdowns amid spiking Covid-19 local transmissions and clusters in Malaysia would dampen our expectations of a more meaningful 2H20 (second half of 2020) economic and corporate earnings recovery.

“Key support [levels] are pegged at 1,450-1,428-1,413, while resistance is situated at the 1,474-1,491-1,502 levels,” it said.