PETALING JAYA: The technology sector may be the focus of investors today, taking its cue from Wall Street which rallied overnight as traders are betting the US Federal Reserve is close to halting interest rate hikes despite a hawkish chairman Jerome Powell indicating there will be more going forward.
Its equity research vice-president Thong Pak Leng said the Dow Jones Industrial Average gained 429 points and the Nasdaq jumped by 156 points as the US Treasury 10-year yield dipped marginally to 3.72 per cent. At 9.10am, the FTSE Bursa Malaysia KLCI inched up 0.23 of-a-point to 1,381.96 from 1,381.73 at yesterday’s close.The broader market was also positive with advancers leading decliners 201 to 111, while 239 counters were unchanged, 1,733 untraded and 25 others suspended.Among the heavyweights, Maybank and Tenaga Nasional added 2 sen each to RM8.62 and RM9.13, respectively, while CIMB fell 1 sen to RM4.99, and Public Bank and IHH Healthcare were flat at RM3.85 and RM5.80, respectively.