KUALA LUMPUR: The FBM KLCI edged higher on Monday as the market attempted to extend its gains over the previous Friday's rally.
The short- and medium-term technical indicators continue to signal resilience, according to TA Securities, which suggests the index may extend its upward momentum over the coming week.
However, it cautioned the upside was expected to remain capped as the local market sentiment stayed fragile with investors closely monitoring ongoing geopolitical developments and their potential impact on regional risk appetite.
"A decisive breakout will therefore depend on stronger buying interest and improved liquidity conditions to support a sustained move to higher levels," it said in its market forecast.
The FBM KLCI was up 0.53 points to 1,687.07 as it commenced trading on Monday, with bank stocks shoring up the gains it made in the previous session.
CIMB rose two sen to RM3.40, RHB gained seven sen to RM7.92 and Hong Leong Bank added 10 sen to RM23.16.
Top actives were MMAG up 0.5 sen to seven sen, TWL unchanged at 2.5 sen and Zetrix AI adding 0.5 sen to 83.5 sen.
