KUALA LUMPUR: Investors are holding off on making any big moves ahead of key domestic and external economic data scheduled for release this week.
At the opening bell, Malaysia's bellwether FBM KLCI was up 1.29 points to 1,453.97 as US Federal Reserve chairman Jerome Powell is scheduled to comment on US rate hikes in a congressional testimony tonight.
Back home, Bank Negara will make its latest interest rate decision on Thursday, although most analysts expect it will maintain the status quo.
Given the cautious market undertone, TA Securities Research said stocks should be in sideways trading with downside bias.
"Immediate index support remains at 1,440, with stronger supports at 1,420 and 1,400.
"Significant overhead resistance is at 1,500, then 1,512, with the last August high near 1,528 as stronger resistance, followed by 1,550 and 1,570 as tougher upside hurdles," it said in its market commentary.
Early market movers included Ajinomoto rising 46 sen to RM14.42, Carlsberg gaining 24 sen to RM22.74, Ralco climbing nine sen to RM1.23 and Unisem adding six sen to RM3.14.
Meanwhile CelcomDigi was down six sen to RM4.25 and PETRONAS Gas shed 14 sen to RM16.50.
Top actives on the market were Hong Seng up 0.5 sen to 14.5 sen, Minda gaining 1.5 sen to 14.5 sen and Jade Marvel rising one sen to 31.5 sen.
