Little change on FBM KLCI in wait for new leads
The FBM KLCI was nearly flat at the open, rising a mere 0.2 points to 1,529.58 as investors maintained caution amid the absence of fresh leads.
According to TA Securities, stocks are expected to trade within a narrow range as investors exercise caution ahead of upcoming earnings releases from prominent US technology firms and leading domestic companies later this week.
"Immediate index support is kept at 1,490, with stronger support found at 1,465 followed by 1,444. Immediate resistance remains at 1,564 with next upside hurdles seen at the recent high of 1,586, followed by 1,610 ahead," it said in a commentary.
Rakuten Trade in its note, meanwhile, said it anticipates some bargain-hunting following the unconditional ceasefire between Thailand and Cambodia, with the FBM KLCI expected to hover in the 1,530-1,545 range today.
Making its debut on the ACE Market today, Oxford Innotech rose nine sen to 38 sen as the top traded stock on Bursa Malaysia.
Ekovest slid three sen to 41 sen on news the proposed merger with its sister company, Knusford, had fallen through.
Eco-Shop dropped three sen to RM1.32 following the previous day's earnings announcement, which showed a weaker 4Q.
On the FBM KLCI, Tenaga Nasional climbed eight sen ot RM13.44, Kuala Lumpur Kepong gained 24 sen to RM20.04 and PPB gained four sne to RM9.29.
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