KUALA LUMPUR: Bursa Malaysia continues to trade in a sideways direction given the mixed trading performance in the US overnight.
The benchmark FBM KLCI was 1.78 points higher at 1,647.46, trading closely to the 50-day simple moving average as investors await more leads.
Wall Street stocks offered little in the way of fresh direction with the Dow Jones Industrial Average and S&P500 backing away from recent record highs ahead of corporate earnings releases.
Malacca Securities Research said it expects funds to remain on the sidelines over the near term although attention may shift to sectors set to benefit from Budget 2025 policies, including construction, property, technology and renewable energy.
It added that the recent weakness in the ringgit could provide opportunities to accumulate export-related stocks.
"Lastly, stocks tied to Johor, Sabah, and Sarawak could see potential gains, as these regions are key areas of growth under Budget 2025," it said in its outlook.
Among gainers on the market, MPI rose 40 sen to RM26.90, United Plantation climbed 40 sen to RM26.40 and Ajinomot added 18 sen to RM15.16.
Of actives, MYEG topped the list with nearly 10 million shares traded, rising two sen to 91 sen while Silver Ridge was unchanged at 43 sen and Sarawak Cable added 1.5 sen to 13.5 sen.
