KUALA LUMPUR: The overnight record-breaking performances of major US indices are returning some optimism to the domestic market, although the benchmark index remains sideways as investors opt for caution.
The release of the US consumer price index for April showed a cooler-than-expected rate of inflation, bolstering hopes the US Federal Reserve could begin cutting rates this year. "In view of the strong momentum in the US, we expect buying interest to spillover towards the local exchange, focusing on the technology sector," said Malacca Securities Research in a note.
"The US imposing higher tariffs on China products may benefit the gloves, semiconductor, EMS, and metal-related industries.
Bursa Malaysia FBM KLCI Equities Trading Investor Commodity Stocks
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