KUALA LUMPUR: Tech-related stocks staged a mild rebound early Wednesday after the overnight rally on Wall Street while recently-battered down Telekom Malaysia advanced on some mild bargain hunting.
At 9.26am, the KLCI was up 4.58 points or 0.27% to 1,690.52. Turnover was 304.74 million shares valued at RM140.11mil. There were 313 gainers, 69 losers and 167 counters unchanged.
All eyes would be on the Budget 2019 proposals to be announced on Friday and the taxes to help put the country’s finances on a strong footing. Concerns about a widening fiscal deficit has made investors cautious.
On the external front, growth in China's manufacturing sector cooled for the second straight month in October, an official survey showed on Wednesday, suggesting a further loss of momentum in the world's second-biggest economy as it faces rising headwinds from a China-US trade row, Reuters reported.
At Bursa, Telekom added 10 sen to RM2.26 in active trade. AirAsia gained 12 sen to RM2.70 and Perstima 18 sen to RM4.70.
KESM bounced 24 sen to RM10.10, SAM Engineering 21 sen to RM7.91 and MPI 20 sen higher at RM11.
Hong Leong Bank fell six sen to RM20.60, Teo Seng 5.5 sen to 73.5 sen, Toyo Ink 5.5 sen lower at 72.5 sen.
Seacera was the most active, up 2.5 sen with 37.7 million shares done.
Datasonic and Prestariang gained to 36.5 sen and 51 sen.
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