KUALA LUMPUR: Much like the in the previous session, the FBM KLCI looked set to be range-bound and sluggish as investors awaited fresh catalysts to guide trading direction.
The benchmark index made a slightly softer opening on Tuesday, down 1.45 points to 1,536.06.
According to TA Securities, stock prices should continue trading sideays pending greater clarity over the Trump administration's tariff plans with major trading partners.
"Immediate index support stays at 1,490, with stronger supports found at 1,465 followed by 1,444. Immediate resistance is kept at 1,564 with next upside hurdles seen at the recent high of 1,586, followed by 1,610 ahead," it said in a market commentary.
Malacca Securities Research said there may be a greater demand for security screening machines given the ongoing trade war driving tigher inspection protocols and regulatory compliance.
It said Wentel Engineering was a proxy to ride the trend.
For its defensive pick, the research firm said 99 Speed Mart will benefit from downtrading as inflationary pressure picks up, coupled with the increase in EPF’s stakes.
"Also, the long-term outlook for the solar industry remains favourable, supported by the NETR and the recent electricity tariff hike," it added.
Most active counters in early trade were NexG flat at 47 sen, Elridge up one sen to 64.5 sen and TWL unchanged at 2.5 sen.
