KUALA LUMPUR: The rally on Bursa Malaysia still has legs as the market opened higher for a third straight day in anticipation of an end to the US government shutdown.
The FBM KLCI rose 1.91 points to 1,636.74, following the previous day's close at a fresh five-week high.
According to TA Securities, the technical signals continue to improve, which suggests the benchmark index should maintain its upward momentum in the near term.
However, it cautioned that further gains may be capped given the absence of fresh domestic catalysts to sustain follow-through buying.
Meanwhile, Rakuten Trade said the FBM KLCI ending above the 1,630 mark after putting on about 15 points over two days could be owing to window-dressing activities.
"We believe such accumulation to persist in view of the stronger Ringgit against the USD currently trending around RM4.14. As such, we expect the index to hover between the 1,630-1,640 range today," it said in a note.
Among the individual stocks, F&B share Nestle rose RM1 to RM113 and F&N extended its rally by 70 sen to RM30.90.
In the banking sector, Hong Leong Bank jumped 20 sen to RM21.08, RHB gained 12 sen to RM6.93 and Maybank added two sen to RM9.93.
Top actives were MMAG down 0.5 sen to 8.5 sen, Famiera falling 1.5 sen to 23.5 sen and Perak Transit sliding one sen to 26.5 sen.
