KUALA LUMPUR: Bursa Malaysia closed the morning session on a high note, driven by market anticipation ahead of the US Federal Reserve's upcoming interest rate decision tomorrow.
At 12.30pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) gained 11.58 points, or 0.7 per cent, to 1,663.73 from last Friday's close of 1,652.15.
The benchmark index opened 2.16 points higher at 1,654.31 and fluctuated between 1,651.55 and 1,664.99 during the morning trading session.
On the broader market, gainers led decliners 483 to 435, with 404 counters unchanged.
Turnover was at 1.35 billion units valued at RM1.10 billion.
In a note today, Malacca Securities Research said traders will be focusing on the US retail sales this week, while the buying momentum may extend on local front.
The firm added that the Nasdaq's softer performance, combined with the stronger ringgit at RM4.298 per US dollar, may negatively impact sentiment in the technology sector.
"However, the strong ringgit could support domestic sectors such as consumer and utilities," it said.
Furthermore, the firm said it sees potential in construction, property, and building materials, as earnings from data center projects may start to materialise moving forward.