KUALA LUMPUR: Bursa Malaysia rebounded in early Tuesday trade, on the heels of Wall Street's own bounce as investors held on to hope negotiations in the Middle East would yield progress towards a permanent resolution.
The FBM KLCI rose 10.44 points to 1,690.96 at the opening bell, as the market continued to move in a sideways consolidation pattern.
"The Malaysian market is expected to trade defensively, with investors closely monitoring developments surrounding the US naval blockade of Iran, the Strait of Hormuz, and Israel-Lebanon tensions for signs of further escalation," said Apex Research in its latest note.
TA Securities said in a separate note the local market is expected to remain under pressure, weighed down by
worries over further disruptions to global energy flows following President Donald Trump's announcement of a US naval blockade on the Strait of Hormuz.
"Immediate support for the index stays at the January 2026 low (1,666), with stronger support coming from the 76.4%FR (1,610), followed by the 61.8%FR (1,564).
"Meanwhile, immediate resistance is maintained at
the March 2026 high (1,720), with tougher upside hurdles at the 123.6%FP (1,759) and 138.2%FP (1,805) ahead," it said in its technical reading.
Stocks bouncing higher on Tuesday included Maybank up 10 sne to RM11.08, Tenaga Nasional rising six sen to RM14.24 and 99 Speed Mart gaining five sen to RM3.35.
Most active counters included Velesto
falling one sen to 33.5 sen, Handal Resources dropping 0.5 sen to three sen and MMAG flat at four sen.
