KUALA LUMPUR: Trading of stocks on Bursa Malaysia will remain earnings-driven as Corporate Malaysia resumes the release financial reports after the holiday break.
Apex Securitie said it expects the FBM KLCI to trade cautiously with a mildly positive bias, supported by resilient domestic fundamentals.
"The ongoing earnings season is likely to keep investors selective, with corporate results and company developments driving individual stock performance," it said in its market outlook.
On the external front, investors will focus on Nvidia's earnings, US gross domestic produce and inflation data. The Federal Reserve's Jackson Hole symposium will also take place later in the week, and offers clues on future interest rate policy.
"Technology sector to remain in focus ahead of Nvidia's earnings, which could influence sentiment towards AI-related counters.
"Meanwhile, energy and plantation stocks may face pressure following the sharp pullback in crude oil prices, while investors are likely to stay selective towards companies delivering resilient earnings results," said Apex
At 9.06am, the FBM KLCI was up 5.62 points to 1,741.95, with banks and telcos leading gains.
Maybank rose six sen to RM10.62, CIMB added seven sen to RM8.03 and Public bank gained six sen to RM5.16.
Maxis rose seven sen to RM3.88, CelcomDigi climbed five sen to RM2.91.
Meanwhile, Gamuda was up four sen to RM4.40 while IHH added seven sen to RM8.22.
Of the leading actitves, Nationgate jumped 15 sen to RM1.64, Ni Hsin
rose one sen to 15.5 sen and Asteel gained 1.5 sen to nine sen.
