FBM KLCI climbs cautiously ahead of key economic data releases
The market barometer climbed 5.39 points, or 0.35%, to 1,562.37, just shy of its intra-morning peak at 1,563.43.
Winners and losers were closely balanced, with 453 gainers against 431 losers and 460 that were flat. Traded volume stood at 1.5 billion shares valued at RM971.6mil.
Malaysian Pacific Industries led Bursa Malaysia's gainers, surging RM1.18 to RM21.42. Nestle added RM1 to RM88.50, Kuala Lumpur Kepong rose 34 sen to RM19.56, and United Plantations gained 24 sen to RM22.02.
On the downside, Tenaga Nasional topped the losers, slipping 20 sen to RM13.60. PETRONAS Dagangan fell 16 sen to RM22.68, NexG dropped 12.5 sen to 41 sen, and Chin Tek declined 12 sen to RM9.83.
Apex Securities said that despite ongoing investor caution amid US tariff issues and geopolitical risks, the local market showed resilience.
'Notably, foreign net selling moderated over the week, signalling a potential shift in sentiment and providing some relief to the market.
'Looking ahead, investors will remain attentive to key external drivers, including upcoming US inflation rate on Tuesday, while domestically, corporate earnings announcements are expected to guide near-term direction,' Apex said.
The research house noted that the recent surge in gold prices, partly driven by new US tariffs on gold bars, may attract buying interests in gold-related counters.
'We also continue to see merit in selectively accumulating domestic-focused power ancillary and renewable energy players, which stand to benefit from structural growth drivers such as data centre expansion and the energy transition— trends we expect to remain resilient despite global trade uncertainties,' it added.
Meanwhile, TA Securities said technical momentum for the FBM KLCI shows signs of improvement after last week's rebound, indicating a possible near-term recovery.
However, the cautious market tone and weak follow-through buying suggest recent gains may be hard to maintain.
'As traders remain on the sidelines awaiting fresh domestic catalysts, the index remains vulnerable to profit-taking and selling pressure.
'On the external front, US President Donald Trump's latest wave
of aggressive tariffs has also heightened global market anxiety, rattling investors across major regions and triggering sharp volatility in trade-sensitive sectors,' it said.
'Immediate resistance is kept at 1,564 with the next upside hurdles coming from the recent high of 1,586, followed by 1,610 ahead.
'Immediate index support is maintained at 1,490, with stronger supports found at 1,465 followed by 1,444,' TA said.
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