US markets ended mixed overnight with the Nasdaq rising while the Dow and S&P were flat. Earlier, European stocks advanced following optimism on the coronavirus vaccine.  

On the local market, the FBM KLCI shed 4.99 points to 1570.08 points. Following the mixed performance in Wall Street, the FBM KLCI could remain sideways below the resistance of 1615 points.

Stocks to watch based on corporate newsflow are: AT Systematization said its RM22 million planned acquisition of industrial glove maker Pearl Glove Sdh Bhd has fallen through. Following the purchase cancellation, it said it will be focusing on building its own glove production capacity via the establishment of a new plant in Perak; Brahim's Holdings is collaborating with Focus Dynamics for the Digital Kitchen Project, a venture in the on-demand food and beverage industry, amid an expected increase in demand for e-commerce-based food delivery services due to the Covid-19 pandemic; Tenaga Nasional has denied a media report saying it is planning to pursue an initial public offering for its power generation business next year; MRCB-Quill REIT's third-quarter net property income rose 9% to RM32.4 million from RM29.74 million a year earlier, as the property trust registered higher revenue from its real estate assets here and in Penang and as group property operating expenses decreased; Sino Hua-An has proposed to dispose of PIPO Overseas Ltd for 88 million yuan (RM54.95 million), which will be used to partially settle an outstanding amount in relation to the group’s acquisition of Touchpoint International Sdn Bhd, as well as partially pay the purchase consideration to Wavetree PLT for intellectual property rights; Macpie said it is exploring a potential fundraising exercise, adding there are no other corporate developments that may account for the sharp rise in its share price. In a filing issued in response to an unusual market activity (UMA) query by Bursa Securities, the group said it is also not aware of any rumour, report or any possible explanation for the UMA.