The FBM KLCI eased 0.23% on Tuesday, pressured by profit-taking in heavyweights CIMB and Tenaga. Market breadth was negative, with 666 decliners outpacing 448 gainers. Sector performance was mixed: Finance (+0.29%), Telecommunications & Media (+0.20%) and Consumer (+0.08%) posted gains, while Utilities (-1.47%), Plantation (-1.12%) and Industrial Products (-1.09%) lagged. Globally, Wall Street advanced, lifted by software and semiconductor stocks, with AMD surging on a major AI chip deal with Meta.
Markets turn selective
European equities edged higher, while Asian markets were mixed, with Shanghai rebounding post-holiday and Hang Seng retreating. Outlook remains cautious as investors await NVIDIA’s earnings, seen as a key gauge of AI demand, while fresh US tariffs add uncertainty. Locally, the FBM KLCI is expected to trade range-bound, with selective interest in consumer, banking and REIT sectors, supported by ringgit strength, tourism prospects, and stable dividend yields.
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