KUALA LUMPUR: The FBM KLCI rose slightly following the weak US jobs data that helped to rein in inflation expectations and gave credence to a pause in the Federal Reserve's rate hikes.
The key benchmark index was up 4.53 points to 1,635.39 at 9.05am, a meagre rebound following last week's steep losses.
Banks were on the rise, including Maybank gaining four sen to RM10.06, Hong Leong Bank adding six sen to RM22.70, Public Bank climbing four sen to RM4.70 and AMMB jumping six sen to RM6.45.
Apex Securities said it remains conservative on near-term risk appetite as easing rate-hike concerns and resilient tech leadership offer support but elevted yields and oil price swings are likely to keep gains uneven.
"We remain cautious on the local bourse, as elevated bond yields and crude oil prices are likely to keep investors defensive.
"With key US labour market data pending, external headwinds should keep volatility elevated, and any recovery is likely to stay gradual until greater clarity emerges on the global rate and energy outlook," it said in a note.
Among the top traded stocks, VS Industry was up three sen to 32 sen, Notion VTech gained 4.5 sen to 75 sen and GB Bond rose 1.5 sen to 24.5 sen.
