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The index briefly fell below 1600 points, then rebounded strongly after receiving support.

Associated Press
Associated Press
(Kuala Lumpur, 1st Reuters) Influenced by the pessimistic sentiment of US stocks overnight, the Malaysian stock market fell below the key psychological level of 1600 points as soon as it opened, but received strong support at the 200-day moving average line and has risen above 1600 points.
After the Halloween holiday, the FTSE Russell SSE Conglomerates Index $FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$had a poor start on the first trading day of November, with the index opening lower at 1591.06 points in the morning session, then falling to 1589.27 points at one point, compared to the previous trading day's closing of 1601.88 points, a decrease of 0.79% or 12.61 points.
The 200-day moving average of the composite index is at 1591 points, from a technical perspective, this is a key support level.
Subsequently, the index is at a key support line at 1591 points, technical level, this is a key support level. $YTLPOWR (6742.MY)$Under the support of investing in components such as ) and SDYA straight profit ( $SDG (5285.MY)$With the support of half of the component stocks, it gradually recovers lost ground and rises above 1600 points.
As of noon break at 12:30 PM, the SSE Composite Index reported 1601.61 points, a slight decline of 0.27 points or 0.02%.
At the same time, the market's trading activity seemed quiet, with over 1000 stocks not trading; the majority of stocks declined, with as many as 524 falling, only 355 rising, 430 unchanged, and 1066 with no trading.
The morning trading volume amounted to 1.263 million shares, with a trading value of 1.268 trillion 5000 shares.
Increased volatility in external sentiment
Based on strong U.S. economic data casting a shadow over expectations of continued interest rate cuts by the Federal Reserve; meanwhile, with the upcoming U.S. presidential election, investors are stepping away to wait and see, the decline in U.S. stocks overnight has led to a general decline in Asian stocks today.
Among them, japan's stock market experienced the most significant decline, with a drop of over 2%, making it the worst-performing stock market in the region.
Information source: Nanyang Commercial Daily
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南洋商报 NYSP
Nanyang Siang Pau Official Account
《南洋商报》创立于1923年,是马来西亚历史最悠久的中文报纸之一。以财经及商业新闻为主,是商家与投资者必备的新闻资讯平台。
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