In a note today, Malacca Securities expects buying support to continue this week.
“This week, the market will monitor the US ISM Services PMI and unemployment claims data on Thursday,” it added.
As the REIT as well as transportation and logistic sectors’ momentum were decent last week, Malacca Securities said there might be continued buying support this week with REIT supported by the stable overnight policy rate (OPR).
“Meanwhile, other trading catalysts such as the potential revival of the Kuala Lumpur-Singapore High-Speed Rail as well as the Johor region investments could bode well for the construction, property, utilities and building materials sectors,” it added.
At 9.01am, the FTSE Bursa Malaysia KLCI (FBM KLCI) added 1.08 points to 1,517.66 from Friday’s close of 1,516.58.
The barometer index opened 0.67 of-a-point easier at 1,515.91.
On the broader market, gainers led losers 131 to 116, while 210 counters were unchanged, 1,779 untraded and 11 others suspended.
Turnover amounted to 78.64 million units worth RM21.62 million.
Among the heavyweights, CIMB and CelcomDigi gained two sen each to RM6.25 and RM4.23, respectively, and IHH Healthcare advanced five sen to RM6.15, while Petronas Chemicals was flat at RM6.78, Maybank declined two sen to RM9.32 and Public Bank shed one sen to RM4.42.
As for the actives, Sapura Energy and Handal Energy added half-a-sen to 5.0 sen and 9.5 sen, respectively, KJTS increased seven sen to 54.5 sen, TWL Holdings and Bina Puri were flat at 4.0 sen and 7.0 sen, respectively, and MAG Holdings slid half-a-sen to 19.5 sen.
On the index board, the FBM Emas Index was 7.60 points higher at 11,256.33, the FBMT 100 Index increased 7.63 points to 10,923.65, the FBM 70 Index improved by 9.91 points to 15,156.11, the FBM Emas Shariah Index rose 5.66 points to 11,274.49 and the FBM ACE Index went up 13.81 points to 4,712.02.
Sector-wise, the Property Index shed 0.94 points to 909.91, the Plantation Index decreased 6.63 points to 7,162.58, the Energy Index erased 2.99 points to 877.97 and the Financial Services Index fell 5.75 points to 16,999.18, while the Industrial Products and Services Index went up 0.36 of-a-point to 172.23.