KUALA LUMPUR: The FBM KLCI looks set to remain range-bound over the coming session as investors await more developments from US President Donald Trump's visit to China.
The US premier arrived in Beijing overnight, with high-stakes talks scheduled with China's Xi Jinping that are expected to shape policy direction over a range of topics including Iran, tech, trade and Taiwan.
In Malaysia, the blue-chip index has been moving in a sideways trajectory over recent days given the lack of clarity amid the ongoing Iran war, and an abundance of caution over the Trump-Xi discussions.
As at 9.05am, the FBM KLCI was up 3.03 points to 1,749.34, and moving in a tight range of 2.5 points.
"We expect the FTSE Bursa Malaysia KLCI to remain range-bound with a cautious upward bias in the near term, supported by improving regional sentiment and continued strength in technology-related counters.
"However, the negative market breadth and weakness in defensive heavyweights such as telecommunications and plantation stocks suggest that broader market participation remains selective, which could limit upside momentum," said Apex Securities in its outlook.
"Externally, record highs in the S&P 500 and Nasdaq Composite, driven by AI and semiconductor optimism, may continue to support sentiment toward local technology names.
"Nevertheless, persistent inflation concerns, elevated Brent crude prices and ongoing geopolitical tensions surrounding Iran are likely to keep investors cautious and sustain volatility across global markets."
For the near term, the research firm expect investors to remain selective, favouring growth-oriented technology plays and earnings-resilient sectors, while maintaining a defensive stance amid external uncertainties and evolving macro conditions.
Early movers included CelcomDigi up seven sne to RM3.11, SD Guthrie gaining eight sen to RM6.08 and MISC rising five sen to RM8.20.
Nationgate led the pack on the actives list, rising eight sen to 87 sen after 20.58 million shares changing hands.
Euro gained 0.5 sen to nine sen and GIIB rose one sen to 28 sen.
