KUALA LUMPUR: Bursa Malaysia may be in for a volatile week as the external uncertainties and downside risk continue to sap investor appetite.
Apex Securities said in a review the FBM KLCI could be negative affected by the bearish sentiment on Wall Street, while the lower liners could also brace for further pullback amid quick profit-taking.
"For now, investors will be monitoring the US core personal consumption expenditures reading this week as the preferred inflation indicator of the Federal Reserve.
"With the on-going volatility, we advocate investor to be defensive, focusing onto gold-related stocks after gold prices marched beyond US$2,000/oz," said Apex.
At the opening bell, the FBM KLCI was down 1.86 points to 1,440.04 with investors trading closely to the 14-day simple moving average amid the ongoing caution.
There was some selling pressure in PETRONAS Chemicals down one sen to RM7.29, Tenaga Nasional sliding three sen to RM9.84 and IOI shedding three sen to RM3.89.
MISC, meanwhile, rose five sen to RM7.32 while Sime Darby Plantation
gained four sen to RM4.31.
Technology stocks were down including MPI shedding six sen to RM26.62, Vitrox dropping five sen to RM6.87 and UWC down three sen to RM3.61.
Top actives included Key Asic, down one sen to eight sen, Asdion falling 0.5 sen to 8.5 sen and Tanco unchanged at 57.5 sen.
