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KUALA LUMPUR – Sectoral positioning took centre stage on Tuesday as investors turned selective ahead of Budget 2026, favouring consumer, construction, technology, and renewable energy counters. These sectors are seen as key beneficiaries of government spending plans and long-term drivers such as data centre expansion and the energy transition. Trading interest also spilled into oil and gas stocks, with Brent prices edging higher on geopolitical risks following Israel’s strike on Hamas leadership in Qatar.
On the technical front, the FBM KLCI managed a slight gain, closing 0.1% higher after staging a late turnaround. Indicators painted a mixed picture, with the MACD Line remaining below the Signal Line while the RSI hovered above 50. Immediate resistance is placed at 1,610, while support lies near 1,550.
Globally, Wall Street extended its record-setting run, supported by optimism that the Federal Reserve will move more aggressively to ease rates. The Dow Jones gained 0.4%, S&P 500 rose 0.3%, and Nasdaq added 0.4%, all closing at fresh highs. Investors shrugged off concerns after U.S. jobs growth was revised lower by 911,000 in the year through March 2025, a development seen as reinforcing the case for Fed rate cuts.
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