KUALA LUMPUR: Investors on Bursa Malaysia may continue to take profit following the recent run-up in share prices, and ahead of US inflation data that will help determine the next step in the Federal Reserve's rate policy.
"After the recent rally towards 1,500, investors have started to take profit and we expect the pullback to extend until the index finds its support level.
"Likewise, the lower liners may also brace for further weakness ahead after enjoying a decent run over recent weeks," said Apex Securities Research in a note.
Looking ahead, investors will be monitoring US consumer price index data due out later today.
Back home, the focus will turn towards the Malaysia industrial production and retail sales data.
Meanwhile, trading interest is expected to focus towards Johor developments, particularly construction and property players ahead of the meeting between Prime Minister Datuk Seri Anwar Ibrahim and Singapore counterpart Lee Hsien Loong later today, said the research firm.
At 9am, the benchmark FBM KLCI was up 0.29 points to 1,487.15 stocks bounced back slightly from the previous day's sell-off.
Telekom Malaysia gained seven sen to RM5.77 while YTL Power added five sen to RM3.43 and QL Resources rose three sen to RM5.91.
Bank counters rose, including CIMB up four sen to RM5.99, AmBank adding one sen to RM4.16, Maybank rising one sen to RM9.01 and Public Bank gaining two sen to RM4.33.
Top actives included Hong Seng up 0.5 sen to 2.5 sen, MMAG adding one sen to 12.5 sen and TWL down 0.5 sen to 4.5 sen.
