KUALA LUMPUR: The FBM KLCI inched higher following the US Federal Reserve's widely anticipated decision to keep the status quo on the interest rate.
Gains, however, were limited as comments from Fed chair Kevin Warsh left the possibility of a rate hike before the year's end on the table.
At 9.10am, Malaysia's key index was up 5.9 points to 1,618.7, with Nestle putting on more weight after a positive set of earnings.
The consumer giant rose 52 sen to RM98.50, extending its rally for a fifth consecutive session after Tuesday's results announcement sparked strong buying momentum.
Apex Securities advised caution as it expects the FBM KLCI to remained under pressure amid a cautious market environment.
It said investor sentiment on the US may be swayed by major technology earnings and the Nov 3 midterm elections, while persistent US-Iran tensions continue to cloud the outlook.
Locally, it said uncertainty surrounding 3Q26 corporate earnings and portfolio adjustments ahead of the phased expansion of the KLCI from 30 to 50 constituents could weigh on market sentiment.
It also noted the heightened political uncertainty following the dissolution of Sarawak’s State Legislative Assembly on Oct 26 ahead of its 13th state election, alongside the Melaka polls scheduled for Nov 14.
"These developments could keep investors cautious as they assess the implications for political alignments, policy continuity and the outlook ahead of GE16," said the research firm in its market outlook.
On the actives list, Zetrix AI was unchangedat 8.5 sen, Kanger dropped 0.5 sen to one sen and CTOS Digital jumped three sen to 42 sen.
