KUALA LUMPUR: Another record-charting performance on Wall Street is expected to lend positive sentiment to the local bourse despite the heightened anxiety over the sell-off in selected lower liners, said Apex Securities Research.
Overnight, the Dow Jones and S&P500 posted record-high closes on the back of a rally in technology stocks, ahead of the release of fourth-quarter corporate earnings results.
This week, Apex said investors on Bursa Malaysia are also monitoring Bank Negara's overnight policy rate decision and US gross domestic product data later this week.
"We are optimistic on the technology sector given the positive sentiments of the sector in the global market.
"Meanwhile, investors may look into the construction and property sectors with the investment theme of HSR project and Johor SEZ," it said in a note.
At the opening belling, the benchmark FBM KLCI was up 1.47 points to 1,492.56 as the market opened higher for a third straight day after the plunge recorded in the previous week.
Shares that were the subject of massive selling were seen stabilising, including Jentayu Sustainables, rising 10 sen to 64.5 sen and YNH Property, adding 45 sen to 44 sen.
SCIB led the top traded counters, adding 0.5 sen to 44 sen on the back of 30.75 million shares done.
Among the blue chips, some early risers included CelcomDIgi up three sen to RM4.26, MISC climbing five sne to RM7.30 and Maybank adding two sen to RM9.03.
