Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng noted that Wall Street ended mixed as selling on AI-related stocks continued.

“As market sentiment remains cautious, we expect the ongoing strength of the ringgit to entice some inflow of funds into the domestic market.

“We anticipate the index to hover within the 1,620-1,635 range today,” he told Bernama.

At 9.15am, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 2.47 points or 0.15% to 1,621.60 from Friday’s close of 1,619.13, after opening 2.40 points firmer at 1,621.53.

Market breadth was positive, with gainers leading losers 264 to 215 and 383 counters unchanged.

On the most active list, Perak Transit rose 1.5 sen to 30.5 sen, Genting Malaysia and Tanco were flat at RM2.34 and 91 sen respectively.

Genetec Technology added 4.5 sen to 47.5 sen and Dufu Technology was 6 sen firmer at RM2.07.

Other top gainers included Fraser & Neave  which increased 90 sen to RM28.50, Malaysian Pacific Industries gained 30 sen to RM30.38, Hong Leong Bank inched up 18 sen to RM20.92, and Petronas Dagangan strengthened 14 sen to RM22.60.

Top losers included Chin Teck Plantations which fell 28 sen to RM10.60, PIE Industrial decreased 20 sen to RM2.69, United Plantations slipped 14 sen to RM25.44 and UMS was 10 sen weaker at RM4.76.

On the index board, the FBMT 100 Index fell 16.82 points to 11,778.38, while the FBM Emas Index edged down 19.79 points to 12,018.10.

The FBM Emas Shariah Index firmed 41.23 points to 12,089.56, the FBM ACE Index improved 35.75 points to 5,086.48, and the FBM Mid 70 Index garnered 43.95 points to 16,970.79.

By sector, the plantation index increased 24.25 points to 8,127.33, the industrial products and services index edged up 0.07 of a point to 168.47, the financial services index expanded 59.94 points to 18,397.18, while the energy index declined 1.38 points to 765.08.