KUALA LUMPUR (Feb 8): The main index at Bursa Malaysia gave up some of its gains at the midday break today, as glove makers dominated the losers' list.

At 12.30pm, the FBM KLCI was up 1.96 points to 1,580.59. The index had earlier risen to a high of 1,586.06.

Gainers led losers by 463 to 306, while 716 counters traded unchanged. Trading volume was 4.16 billion shares valued at RM2.36 billion.

The gainers included Nestle (Malaysia) Bhd, Tasco Bhd, Seni Jaya Corp Bhd, Press Metal Aluminium Holdings Bhd, Woodlandor Holdings Bhd, Knusford Bhd, Sarawak Consolidated Industries Bhd, Telekom Malaysia Bhd and Techbond Group Bhd.

The actively trade stocks included Dagang NeXchange Bhd, Luster Industries Bhd, Trive Property Group Bhd, AT Systematization Bhd, Pasukhas Group Bhd, HB Global Ltd, Yong Tai Bhd and Sanichi Technology Bhd.

The decliners included Hartalega Holdings Bhd, Supermax Corp Bhd, KESM Industries Bhd, Top Glove Corp Bhd, See Hup Consolidated Bhd, Amtel Holdings Bhd, Genetec Technology Bhd and Kosssan Rubber Industries Bhd.

Reuters said Asian shares hovered near record highs today while oil edged closer to US$60 a barrel on hopes a US$1.9 trillion Covid-19 aid package will be passed by US lawmakers as soon as this month just as coronavirus vaccines are being rolled out globally.

MSCI's broadest index of Asia-Pacific shares outside Japan was last up 0.3% at 717.2 after climbing as high as 730.16 late last month, it said.

Hong Leong IB Research said tracking the 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 could still retest the stiff 1,600 psychological barrier in this Chinese New Year holiday-shortened week.

"However, further gains are likely to be capped amid elevated Covid-19 infections and the start of the February reporting season.

"Given the potential for volatility, a balanced portfolio remains appropriate.

"Hence, we would adopt a more balanced approach in our top picks with a combination of recovery plays, volatility, defensives, value and sold down pandemic beneficiaries," it said.