KUALA LUMPUR: The FBM KLCI rose slightly on Monday ahead of year-end window-dressing activities.
At the opening bell, the benchmark index was up 2.55 points to 1,596.84, firmly below the 1,600 psychological level after the release of lacklustre corporate results.
Malacca Securities Research, however, expects a rebound to emerge as the window-dressing period begins.
The research firm also said it maintained a positive outlook on technology and gloves as the sectors could benefit from the ringgit's depreciation of at least 7.5% since the end of of September.
"Also, we expect sustained buying interest in plantation stocks, supported by the continued upward momentum in CPO prices, and strong earnings reported by plantation companies," it said in a note.
Meanwhile, the research firm said traders will monitor key econmic indicators including ISM PMI data, labour market updates (JOLTS, ADP employment, unemployment rate, and non-farm payrolls) and weekly unemployment claims.
Among early market gainers, United Plantations rose 30 sne to RM30.60, PETRONAS Dagangan gained 30 sne to RM19.90 and Press Metal
climbed 15 sen to RM4.79.
Top actives were Ta Winn down 0.5 sen to two sen, Capital A shedding 2.5 sen to 97.5 sen and PDZ flat at 4.5 sen.
