KUALA LUMPUR: The range-bound trading on the Bursa Malaysia is set to continue as it enters the final day of trading before the Hari Raya break.
With an absence of domestic leads and a mixed performance on Wall Street overnight, investors should remain on the sidelines until further clarity on the global economic and interest rate outlook.
Meanwhile, Malaysia’s consumer price index for March is scheduled to be released at midday, which would offer insight into the pace of inflation in the country.
At the opening bell, Bursa Malaysia’s benchmark FBM KLCI was up 3.57 points to 1,428.64 amid some retracement from the previous session’s losses.
TA Securities Research projects a lacklustre trading session ahead of the extended weekend.
“Immediate index resistance remains at 1,450, followed by the 200-day moving average level at 1,457, with 1,500, and then 1,512 acting as stronger resistance levels.
“Key chart supports will be the recent low of 1,391, and last October’s low of 1,372,” it said in a note.
Among the laggards, Nestle fell 40 sen to RM134.60, F&N shed 34 sen to RM26.94 and Salute dove 17 sen to 99 sen.
Gainers include Dutch Lady up 36 sen to RM26.50, Ajinomoto climbing 12 sen to RM16.02 and MAHB gaining seven sen to RM7.15.
Top actives include Revenue up 2.5 sen to 42.5 sen, MYEG down two sen to 80 sen and Tanco gaining 0.5 sen to 47.5 sen. – The Star