KUALA LUMPUR — Trading on Bursa Malaysia began cautiously as investors awaited key corporate earnings, despite improved global risk appetite following stronger-than-expected results from Nvidia that reinforced confidence in AI demand.
At 9.05am, the FBM KLCI slipped 2.47 points to 1,745.34, weighed down by banking heavyweights.
Shares of Malayan Banking Bhd (Maybank) fell 10 sen to RM12.26, while RHB Bank Bhd declined five sen to RM8.26 ahead of their earnings announcements later in the day. Hong Leong Bank Bhd, also set to release results, was unchanged at RM24.04.
Apex Research said Nvidia’s upbeat guidance helped ease concerns of a deeper AI-related sell-off, leading to modest improvement in market sentiment. It noted that AI optimism could support interest in Malaysian technology stocks, although broader sentiment may remain cautious amid ongoing external uncertainties.
“Overall, the FBM KLCI is expected to trade range-bound in the near term, as investors focus on corporate earnings while external risks may cap upside momentum,” the research house said.
TA Securities added that firmer regional sentiment may provide some support, but blue chips are likely to remain in consolidation mode until stronger domestic catalysts emerge.
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Technical levels highlighted include immediate support at the 1,700 psychological mark, with stronger support at 1,645 and 1,610. Resistance is seen at 1,804, followed by 1,841 and 1,879.
Among stocks reacting to earnings, Nestle (Malaysia) Bhd rose 50 sen to RM111, Sunway Construction Group Bhd gained 24 sen to RM7.14, Kuala Lumpur Kepong Bhd advanced 16 sen to RM19.34, and Sunway Bhd added 14 sen to RM5.98.
Meanwhile, Capital A Bhd, the most actively traded stock at the time, was flat at 60.5 sen following its earnings release late yesterday.
On the downside, G3 Global Bhd eased 0.5 sen to 1.5 sen, while NationGate Holdings Bhd fell 7.5 sen to 93.5 sen.
-Thestar
