KUALA LUMPUR: The FBM KLCI looked poised to extend its bounce amid an improvement in domestic sentiment following last Friday's tabling of Budget 2027.
Apex Securities said Friday's stronger market breadth suggest buying interest has broadened beyond a handful of index heavyweights, which could support further selective upside.
It added, however, that gains may be capped by persistent foreign selling and geopolitical tensions in the Middle East, particularly if they trigger another rise in crude oil prices or global bond yields.
"Overall, we expect the KLCI to remain supported above recent lows, with trading likely to stay selective as investors balance domestic policy catalysts against external macro and geopolitical risks," it said in a note.
At 9.05am, the FBM KLCI was up 0.75 point to 1,609.2, a fraction higher as traders' optimism over domestic developments were tapered by news of Iran's deadly missile strike on Riyadh's airport.
Brent crude futures for December delivery remained elevated above US$103 a barrel.
Blue-chip gainers on Bursa Malaysia included Maybank up five sen to RM9.86, Tenaga Nasional rising six sne to RM12.94 and Telekom Malaysia up 10 sen to RM7.98
In energy and plantations counters, Kuala Lumpur Kepong dropped 28 sne to MR20.34, SD Guthrie lsot three sen to RM6, PETRONAS Chemical slid six sen to RM4.22 and PETRONAS Dagangan lost eight sen to RM19.16.
Top actives on the market include Zetrix AI flat at 8.5 sne, VS Industry up 1.5 sen to 36 sen and Genting plunging 25 sen to RM1.63.
