KUALA LUMPUR (Feb 5): The main index at Bursa Malaysia stayed lacklustre at the midday break as glove makers were featured among the top losers in the morning session.

At 12.30pm, the FBM KLCI was down 3.67 points to 1,581.23.

Losers edged gainers by 369 to 364, while 687 counters traded unchanged. Trading volume was 3.39 billion shares valued at RM1.98 billion.

The top losers included Nestle (Malaysia) Bhd, Computer Forms (Malaysia) Bhd, Kuala Lumpur Kepong Bhd, Heineken Malaysia Bhd, KESM Industries Bhd, Fraser & Neave Holdings Bhd, Khind Holdings Bhd and Hong Leong Financial Group Bhd.

Index-linked glove makers Top Glove Corp Bhd, Supermax Corp Bhd and Hartalega Holdings Bhd also retreated.

The actively traded stocks included i-Stone Group Bhd, Luster Industries Bhd, Trive Property Group Bhd, QES Group Bhd, Iris Corp Bhd, Metronic Global Bhd and Aemulus Holdings Bhd.

The gainers included Genetec Technology Bhd, Amtel Holdings Bhd, SKB Shutters Corp Bhd, Solarvest Holdings Bhd, See Hup Consolidated Bhd and Petronas Chemicals Group Bhd.

Reuters said global shares closed in on their record peaks on Friday, with Asian shares taking their lead from Wall Street, as progress in vaccine distribution prompted bets on further normalisation in the global economy and earnings recovery.

MSCI's gauge of Asian shares outside Japan rose 0.4% while Japan's Nikkei rallied 1%, it said.

Hong Leong IB Research said tracking recent rally on Wall Street and the allowance of all economic sectors to open (with tightening standard operating procedures) coupled with the road map of Malaysia's National Immunisation Plan, KLCI is likely to trend sideways but with an upside bias towards 1,600 psychological barrier.

"However, we see stiff resistance near 1,600-1,618 zones amid elevated Covid-19 infections and the start of the February reporting season.

"On stocks' selection, Malayan Banking Bhd should advance further with a breakout above downtrend line at RM8.00, followed by the next RM8.20-8.45 hurdles whilst key supports are pegged at RM7.70-7.80 zones.

"Likewise, RHB Bank Bhd should rise further following the downtrend line breakout near RM5.20 yesterday, challenging the next hurdles at RM5.40-5.60. Key supprts are situated at RM4.90-5.00," it said.