KUALA LUMPUR: Bursa Malaysia was little changed at the lunch break as investors stayed on the sidelines ahead of key US economic data that could offer clues on the Federal Reserve's interest rate path.
The FBM KLCI was little changed at the lunch break, edging up 0.02 of a point to 1,679.54, recovering from its intramorning low of 1,675.04.
There were 400 gainers, 505 losers and 537 counters traded unchanged on the Bursa Malaysia. Turnover stood at 2.38 billion shares valued at RM1.29bil.
TA Securities said the local benchmark is expected to consolidate with a slight downward bias as investors await greater clarity from upcoming economic data releases in major global markets.
The brokerage noted that the immediate support for the index remains at the March 2026 low of 1,664, with stronger support seen at the 76.4% Fibonacci retracement (FR) level of 1,610, followed by the 61.8% FR level of 1,564.
“Immediate resistance stays at the 123.6%FP (1,759), with tougher upside hurdles seen at the 138.2%FP (1,805) and 150%FP (1,842) ahead,” TA said.
Meanwhile, Apex Securities expects near-term market sentiment to remain cautious as investors await upcoming US consumer price index and producer price index data for further clues on the Federal Reserve's policy direction.
The brokerage said stronger-than-expected inflation readings could reinforce expectations that interest rates will remain higher for longer, potentially weighing on risk appetite.
It said investors are likely to remain attentive to evolving domestic political developments and foreign fund flow trends.
“While ringgit weakness and external uncertainties may keep the FBM KLCI range bound, the benchmark index has thus far demonstrated relative resilience compared with regional peers amid recent market volatility.
“Nevertheless, the recent weakness appears to be driven largely by external sentiment rather than a significant deterioration in domestic fundamentals,” Apex said.
Among the top decliners, Tanco Holdings fell 17 sen to 95 sen, IOI Properties
shed 14 sen to RM4.02, Unisem declined 13 sen to RM4.77 and Sunway slipped 12 sen to RM5.13.
In contrast, Nestle rose 88 sen to RM92.88, Ajinomoto surged 82 sen to RM15.24, Concrete Engineering Products gained 51 sen to RM4.50 and Fraser & Neave advanced 34 sen to RM26.48.
