KUALA LUMPUR: The profit-taking activities on the domestic market, triggered by a downturn in regional sentiment, are likely to keep the FBM KLCI in range-bound motion, said Apex Securities Research.
Following yesterday's retreat, the benchmark index opened 1.58 points lower at 1,567.67.
"Going forward, we are in view for a potential sideways formation to emerge amid the absence of fresh leads with inflation rate holding steady at 1.8% in March 2024.
"The lower liners are also bracing for minor pullback as investors booked in recent profits," said Apex Securities.
The research firm said the key focus lies in the release of Malaysia's producer price index data as well as US consumer sentiment data.
Sector wise, it expects the late recovery on the Nasdaq to fuel sentiment on Bursa Malaysia's technology sector.
Meanwhile, the rollout of EPF account 3 for flexible withdrawals from May 11, 2024, may boost the consumer sector, it said.
Among blue chips, Press Metal slid five sen to RM5.38, IHH dropped five sen to RM6.20 and Tenaga Nasional slid two sen to RM11.84.
IOI shed two sen to RM4.01, Maybank lost two sen to RM9.76 and Maxis slipped one sen to RM3.55.

Sumber : thestar.com.my