KUALA LUMPUR: The FBM KLCI is expected to trend sideways after hitting the 1,600 level earlier this week as investors await fresh leads to determine trading direction.
At the start of Thursday trading, the key index was up 1.46 points to 1,606.21.
TA Securities Research noted that profit-taking interest was seen growing in the previous sessions following mixed cues from US Federal Reserve officials that implied interest rate cuts htis year may not be a done deal.
"Uncertainty over the potential for US interest rate cuts by this year-end should force stocks to fall back for profit-taking consolidation as investors reassess the global growth and inflation outlook," said the research firm in its market commentary.
...