Investors look ahead to corporate results
KUALA LUMPUR: Malaysia's benchmark stock index could maintain a sideways trajectory despite a bullish performance on Wall Street as investors stay cautious ahead of the corporate results period, said Apex Securities Research.

Nevertheless, the research firm expects any pullback to be well cushioned by the sustained foreign fund inflow of late.

"Looking ahead, key economic data that will be closely monitored includes Malaysia’s 4Q23 GDP, UK’s retail sale and US’s PPI," it said in a note.

Malacca Securities Research, meanwhile, said investors will be monitoring the corporate earnings season for trading opportunities as most of the companies may exceed expectations as 4Q23 was a recovering quarter based on the US GDP data.

"Thus, we opine that the buying support may prolong on the local exchange today," it said in a a review.

At the opening bell, the FBM KLCI was up 2.3 points to 1,530.68 as investors picked up some shares on renewed hope the US Federal Reserve could begin cutting interest rates in March.

Top gainers included Maybank up three sen to RM9.43, Tenaga rising four sen to RM11.14 and YTL Power adding three sen to RM3.96.

Leading actives included TWL unchanged at 3.5 sen, Minetec rising 0.5 sen to 17.5 sen and Hong Seng flat at two sen.
Markets,Bursa Malaysia,equities,commodities,trading,FBM KLCI
KUALA LUMPUR: Malaysia's benchmark stock index could maintain a sideways trajectory despite a bullish performance on Wall Street as investors stay cautious ahead of the corporate results period, said Apex Securities Research.