KUALA LUMPUR: The domestic market started on a rebound although the sentiment remained uncertain ahead of a key US labour report that will shed light on the health of the US economy.
Following two days of decline, the benchmark FBM KLCI rose 4.65 points at Friday's open to 1,668.06.
According to Apex Securities Research, the market sentiment is expected to remain turbulent as investors anticipate the upcoming key US non-farm payroll data, following from last month's weak data that triggered a sell-off in equities.
"On the local bourse, funds are continuing to shift away from riskier, high-valuation industries such as technology and utilities.
"Given the uncertainty, caution is warranted on this final trading day of the week, ahead of tonight's crucial payroll release," said the research firm.
On sectors, Apex said the energy and technology stock might find some stability, buoyed by steadier oil prices and a resilient Nasdaq index.
The financial sector remained its preferred pick as a safe haven while drawing foreign fund inflows.
On the market today, Maybank jumped eight sen to RM10.88 to lead the blue chips higher.
IHH rose five sen to RM6.49, Tenaga gained six sen to RM14.88 and IOI added three sen to RM3.95.
Top actives were Steel Hawk added 1.5 sen to 36 sen, Cape EMS gained 0.5 sen to 34.5 sen and MYEG dropped one sen to 90.5 sen.
