KUALA LUMPUR: There was slight optimism on Bursa Malaysia following Wall Street's tech-led rally as elevated bond yields continue to dampen the equities outlook.
The FBM KLCI was up 3.77 points to 1,635.52 at 9.04am, suggesting the index remains caught in a consolidation phase.
"Attention now turns to the minutes of the Fed's September meeting, which may shed light on its decision to hike rates by a quarter point last month.
"While global equities have climbed around 12% year-to-date and remain just below all-time highs, we stay cautious, as the rally is narrowly led by tech and elevated bond yields remain a key risk if the Fed stays higher for longer," said Apex Securities in a note.
The research firm said it was cautious on the FBM KLCI this week as the absence of market-moving factors and the Budget 2027 tabling on Friday are likely to keep participants on the sidelines.
"Selective buying is likely to continue but upside will be limited until greater clarity emerges on the Budget and external conditions such as bond yields and crude oil prices."
On the blue-chip index, plantations stocks rose including Kuala Lumpur Kepong up 22 sen to RM21.08, SD Guthrie gaining six sen to RM6.08, and IOI rising five sen to RM4.65.
YTL Power added nine sen to RM5.63, PETRONAS Dagangan added 16 sen to RM19.36.
Among top actives, Zetrix AI regained 1.5 sen to eight sen, SL Green Realty dropped 3.5 sen to 24.5 sen and Salutica added one sen to 12 sen.
