KUALA LUMPUR: The FBM KLCI rose slightly in Tuesday morning trade following a rebound on Wall Street overnight as fears over recent US economic data subsided.
At 9am, the benchmark index was up 2.31 points to 1,653.8.
Malacca Securities Research said the rebound in technology stocks could lead traders to bargain-hunt for oversold technology stocks on the local front.
"Additionally, Apple's 'Glowtime' conference, where new versions of the iPhone, AirPods, and Apple Watch has been unveiled, could generate buying interest in Apple-related tech stocks on our local exchange," said the research firm in a note.
"Given the strong ringgit, we continue to favour the Consumer sector. Furthermore, uptrends have been observed in the Construction, Utilities, oil and gas, and renewable energy sectors," it added.
Blue chips on the rise included Tenaga Nasional gaining 12 sen to RM14.76, YTL Power adding seven sen to RM3.44, YTL Corp climbing seven sen to RM2.46.
Among banks, Maybank added six sen to RM10.96, CIMB added seven sen to RM8.36 while Hong Leong Bank jumped 18 sen to RM21.12.
Among actives, 99 Speed Mart was down two sen to RM1.86, Velesto
rose one sen to 19.5 sen and Eversendai gained 3.5 sen to 61.5 sen.
