KUALA LUMPUR: The FBM KLCI opens firmer on Monday, tracking mild positive sentiment, although tariff uncertainties from the US may cap gains and keep investors cautious.
The benchmark index rises 5.21 points, or 0.3%, to 1,758.04 at 9.22 am. It opens 4.14 points higher at 1,756.97 earlier, reflecting mild positive sentiment in early trade.
Berjaya Research Sdn Bhd said the FBM KLCI may trade in a cautiously constructive manner, supported by its ability to defend recent gains despite softer participation and mixed market breadth.
“The recent consolidation could be viewed as a healthy digestion phase following the weekly advance, with near-term movements likely to hinge on the return of institutional flows after the holiday lull,” it said.
The research house noted that the Supreme Court ruling to strike down the “Liberation Day” tariffs could bode well for global markets, potentially lifting sentiment in the near term.
However, gains may be capped by the 15% global tariff announced by U.S. President Donald Trump under the Trade Act of 1974, which could temper risk appetite.
“Technically, the FBM KLCI has formed a doji candlestick to remain within the consolidation band. Near-term resistance is located at 1,756 points, followed by the next resistance at 1,760 points.
“Meanwhile, the immediate support remains pegged at 1,734 points, followed by 1,720 points,” Berjaya Research said.
Rakuten Trade Sdn Bhd said while the market undertone for the local bourse remains solid, U.S. President Donald Trump’s latest tariff policy may create some short-term confusion.
“As such, we expect the index will hover within the 1,750-1,760 range today,” it added.
Among the gainers on Bursa Malaysia, Nestle rose RM1 to RM110.70, Atlan added 17 sen to RM2.79, IHH Healthcare gained 16 sen to RM9.00 and PPB Group climbed 14 sen to RM11.00.
On the other hand, Globaltec Formation lost 10 sen to RM1.06, Press Metal
slid 10 sen to RM7.60, Carlsberg declined eight sen to RM18 and Heineken fell eight sen to RM24.42.
