KUALA LUMPUR: Investors will stay cautious in the hours leading up to the tabling of Budget 2025, with a close eye being kept on sectors that are expected to benefit including construction, property, building materials and utilities.
Malaccca Securities Research said the technology rally in the US, along with a stronger US dollar, could also set investors bargain-hunting locally for tech stocks.
"Additionally, selected plantation and oil and gas stocks with attractive dividend yields could appeal to long-term investors," said the research firm.
Overnight, the Dow Jones Industrial Average advanced to its fourth record close in the last five sessions on stronger-than-expected monthly retail sales.
Observers say the data indicated a robust US consumer sentiment, while TSMC's upbeat forecast buoyed chipmakers' stocks.
The other major Wall Street benchmarks were mostly flat, with a fractional decline for the S&P 500 and minute win for the Nasdaq Composite.
At the start of trading in Malaysia, the FBM KLCI rose 1.85 points to 1,643.29, below the 50-day simple moving average as the index continued to move sideways.
There was buying of Genting shares, up three sen to RM4.02, and Genting Malaysia, rising two sen to RM2.30, following recent selling pressure.
Meanwhile, bank stocks were mixed with Maybank down four sen to RM10.64, RHB sliding four sne to RM6.44 while Public Bank rose one sen to RM4.55 and CIB adding seven sen to RM8.23.
LPI Capital lost four sen to RM6.44.
Among actives, TWL rose 0.5 sen to three sen, AHB was unchanged at four sen and Yew Lee was flat at 51 sen.
