KUALA LUMPUR: The FBM KLCI rose slightly at the start of Tuesday trading following a pick-up in buying sentiment ahead of the KLCI semi-annual review cut-off period.
At the opening bell, the benchmark index was 3.05 points higher to 1,600.5.
Despite the upbeat momentum, gains on the index remained capped by the 200-day simple moving average, which lay flat against the 1,600-point psychological level.
Overnight, US stock indices moved higher as investors speculated that Donald Trump's choice of Scott Bessent to lead the Treasury would bring a Wall Street mindset to the role, which favours the stock markets and improve overall business conditions.
The Dow Jones gained 0.99% to 44,736, the S&P500 rose 0.3% to 5,987 and the Nasdaq added 0.27% to 19,054.
In a note, Malacca Securities Research reiterated its view that the ongoing US-China trade tensions could offer potential upside opportunities in the technology and glove sectors.
"Also, the construction, property, and building materials sectors are expected to remain supported by earlier data centre investments, potentially translating into earnings growth during this reporting season.
"Lastly, with banking stocks rallying yesterday, we anticipate some upside momentum for traders to capitalise on," said the research firm.
Among the blue chips, IHH rose 12 sen to RM7.12, PPB gained 26 sen to RM13.26 and PETRONAS Dagangan climbed 84 sne ot RM18.26.
Of actives, Zentech was flat at one sen, Revenue gained 1.5 sen to 16 sen and Lay Hong was flat at 37.5 sen.
