KUALA LUMPUR: Bursa Malaysia's closed middaay mixed as the main index barely stayed afloat as traders awaited the US Producer Price Index data, looking for clues on the Federal Reserve's next interest rate decision.
At 12.30pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) was up 1.35 points to 1,634.90 from Friday's close of 1,633.55.
The benchmark index opened 3.62 points higher at 1,637.17 and fluctuated between 1,632.37 and 1,642.56 during the morning session.
On the broader market, decliners outnumbered gainers 597 to 278, with 437 counters unchanged.
Turnover was at 1.34 billion units valued at RM964.02 million.
In a note today, Malacca Securities Research said the local market conditions stabilised despite the ringgit weakening last week, as traders anticipate a potential recovery ahead of the tabling of 2025 Budget this Friday.
"With the budget on the horizon, we expect investor interest to concentrate on the construction, property, building materials, utilities, and e-invoicing sectors. "Additionally, the strengthening US dollar may shift attention toward export-oriented sectors such as gloves and technology," it added.
The firm also have a positive outlook on the plantation sector, as the uptrend in crude palm oil prices remains stable.