KUALA LUMPUR: The FBM KLCI rebounded on Thursday following a positive performance on Wall Street as investors positioned ahead of Nvidia's earnings announcement.
There was also some de-escalation in the Middle East conflict and decline in oil prices, which could offer some support to buying activity over the near term.
The FBM KLCI rose 3.74 points to 1,721.43 at the opening bell, as traders attempted to pick up bargains after six straight days of decline.
Apex Securities said retreating US Treasury yields and easing concerns over Middle East tensions offers the domestic market a cautiously construction near-term outlook.
"Against this backdrop, we expect rotational trading into defensive and commodity-linked sectors to persist, while technology sentiment may remain volatile ahead of further clarity on earnings and bond yield direction.
"Domestically, we expect the FBM KLCI to remain range-bound amid cautious regional sentiment and mixed foreign fund flows," it said in its market outlook.
Among the blue chips, Gamnuda rose five sne to RM4.45, PETRONAS Gas gained 16 sen to RM17.36 and MR DIY jumped five sen to RM1.75.
Leading actives included new ACE Market listing EI Power, climbing eight sen to 56 sen, PUC adding 0.5 sen to 2.5 sen and SkyeChip falling 11 sen to RM2.10.
