KUALA LUMPUR: A wave of positive sentiment is expected to come over equities markets following the release of cooling US inflation data, which sent US stock prices surging overnight.
However, upside potential may be limited as investors remain cautious amid the ongoing results season couple with US-China talk, said Apex Securities Research.
"The technology sector is expected to lead the gains, supported by the decline in US Treasury yields and the surge in the Nasdaq. We also favour the plantation sector that potentially ride onto the higher CPO prices which advanced above RM3,900/MT," said the research firm.
Looking ahead, there remains other economic data slated for release, including the US production price index and retail sales tonight and unemployment claims on Friday, which may impact investor sentiment.
At the opening bell, the benchmark FBM KLCI was up 1.89 points to 1,453.61 as investors were quick to capitalise on the renewed buying interest.
Some early gainers included Maybank up three sen to RM9.14, CIMB rising three sen to RM5.76 and IHH adding four sen to RM5.95.
Among other blue chips, Dialog Group
rose four sen to RM2.15 on the back of its earnings announcement yesterday, while Genting rose five sen to RM4.33
Tenaga slid four sen to RM9.93 while CelcomDigi shed three sen to RM4.30.
Meanwhile, tech counter MPI jumped 50 sen to RM27.40 while Greatec rose 10 sen to RM4.77 and Aurelius Tech gained six sen to RM2.65.
Top actives included Hong Seng falling one sen to four sen, SC Estate Builder rising 0.5 sen to 4.5 sen and market-debutant Plytec, unchanged at 35 sen.
