KUALA LUMPUR: The FBM KLCI continued on its upward trajectory on Thursday, despite warnings from analysts there could be a near-term pullback as the ongoing US government shutdown weighs on investor sentiment.<\/p>\n
Wall Street shrugged off concern over the government shutdown overnight, with healthcare and tech-related counters shoring up gains across all three major indices.<\/p>\n
However, TA Securities expects investors to begin cashing out on the local market as the FBM KLCI closed at a fresh nine-month high yesterday.<\/p>\n
“The local benchmark index is expected slip into profit-taking consolidation as investors reduce positions following recent gains, with sentiment further pressured by concerns over the U.S. government shutdown, prompting a cautious tone across regional markets,” it said in its market commentary.<\/p>\n
Rakuten Trade struck a more optimistic tone in its report, saying the recent buying suport illustrates the index should have more legs to climb going forward.<\/p>\n
“Hopefully this will instigate the revival of retail participation in due course,” it added. The broker expects a further push by the index into the 1,620-1,630 range today.<\/p>\n
At 9am, the FBM KLCI was trading up 0.81 points to 1,621.68.\u00a0<\/p>\n
Healthcare group IHH rose 28 sen to RM8.22 while Hong Leong Bank gained 20 sen to RM21.<\/p>\n
Actives included Camaroe rising 1.5 sen to 15.5 sen, VS Industry gaining three sen to 63 sen and Techbase adding 0.5 sen to 13 sen.<\/p>\n
Other actively traded shares included SNS Network rising five sen to 74 sen, JCY putting on one sen to 38.5 sen and Notion VTec adding three sen to 68.5 sen.<\/p>\n","protected":false},"excerpt":{"rendered":"KUALA LUMPUR: The FBM KLCI continued on its upward trajectory on Thursday, despite warnings from analysts there could…\n","protected":false},"author":2,"featured_media":184123,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[64,63,11819,99,11821,11820,171,5473,1610],"class_list":["post-184122","post","type-post","status-publish","format-standard","has-post-thumbnail","category-markets","tag-au","tag-australia","tag-bursa-malaysia","tag-business","tag-equities","tag-klci","tag-markets","tag-stock","tag-trading"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/184122","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=184122"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/184122\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/184123"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=184122"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=184122"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=184122"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}