KUALA LUMPUR: There was a slight rebound on the domestic market following the sharp drop in the previous session, although the gains were capped as investors looked ahead to the US Federal Reserve decision on Thursday.
At the start of trading, the FBM KLCI was up 1.39 points to 1,613.33, staying aflot of the 50-day simple moving average in a consolidation pattern.
Apex Securities Research reiterated its view that the key index will continue trending sideways due to a cautious approach ahead of the Fed interest rate decision, while lower liners are expected to remain downbeat.
However, it said it expects some trading opportunity in the transport sector after Transport Minister Anothony Loke expressed hope in developing and enhancing the infrastructure at existing ports, aiming to make Malaysia a "homeport" for cruise ships.
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