KUALA LUMPUR: Local blue chips made a firm start on Tuesday after Wall Street extended its rebound overnight on the further recovery of tech stocks.
Apex Research said the FBM KLCI is expected to trade on a firmer footing today, supported by positive sentiment in line with firm domestic growth momentum.
"Investor focus will turn to this week’s 4Q25 GDP data for further insights into the strength of the economy and the policy outlook.
"Externally, attention will also be on a series of key US macro releases, including non-farm payrolls, the unemployment rate and the core CPI index, which could offer greater clarity on the Federal Reserve’s policy trajectory," it said in its review.
Meanwhile, the research firm said continued foreign inflows, alongside sustained positive sentiment, should underpin demand for large-cap defensives and earnings-visible names, particularly within the financials, utilities and selected technology sectors.
TA Securities noted that further upside should be limited with investors expected to remain on the sidelines as they await the release of key economic reports from the U.S.
and China later this week.
"Immediate resistance is maintained at the 138.2%FP (1,804), with next upside hurdle coming at the 150%FP (1,841), followed by tougher resistance at the 161.8%FP (1,879). Immediate support remains at the 1,700 psychological level, with stronger support coming from the September 2016 low (1,645), followed by the 76.4%FR (1,610)," it said in its technical outlook.
The FBM KLCI was up 4.16 points to 1,755.46 at the opening buzzer. Heavyweight banks propelled themselves higher with Maybank touching yet another historic high at RM12.12.
Gamuda recovered eight sen to RM4.11 while Press Metal
gained nine sen to RM7.69 and Kuala Lumpur Kepong climbed 20 sen to RM19.86.
Top actives included MMAG flat at 4.5 sen, Zetrix AI down one sen to 79.5 sen and Elridge up two sen to RM1.32.
