KUALA LUMPUR: Early trading action on Bursa Malaysia yielded a negative performance with the benchmark FBM KLCI staying just below the flat line.
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After posting a mild decline on Tuesday, the index was down 0.83 points to 1,605.31 in the first five minutes of trading.
According to Malacca Securities Research, investors are taking money off the table after four straight days of gains although sentiment remains upbeat.
“We believe sentiment should stay positive despite the mixed trading tone on Wall Street and the MCO extension in several states as we think the ongoing rally in the crude oil price and the clearer timeline for the Covid-19 vaccination programme should be the focus for the economy to recover moving forward,” it said in its daily outlook.
Energy stocks also remained in focus on the back of the rising price of crude oil. Brent crude continues to hover near recent highs after topping out at US$63.70 a barrel yesterday.
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The most actively traded stocks early in the day were DGB up one sen to 15.5 sen, Sapura Energy rising one sen to 14.5 sen and Dagang Nexchange up one sen to 55 sen.
Velesto was also in high demand, gaining one sen to 16 sen.
Glove makers were also on the rise, led by Kossan gaining 15 sne to RM4.09, Supermax rising 14 sen to RM6, Top Glove adding 10 sen to RM6.16 and Careplus rising nine sen to RM2.17.
Hartalega however was down two sen to RM12.42.- The Star