Bursa Malaysia closed mid-session in a positive position, reflecting the upward trend in regional markets. It was also supported by Wall Street's strong close last Friday.
At 12.30pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 6.54 points to 1,581.70 from last week's close of 1,575.16.
The benchmark index opened 1.14 points higher at 1,576.30 and moved in a range of 1,575 to 1,582.05 throughout this morning's session.
Broad market sentiment was positive as gainers outnumbered losers at 351 to 299. Meanwhile, the 780 counter was unchanged.
The total turnover is 2.78 billion units worth RM1.70 billion.
Malacca Securities Research said traders continued to focus on earnings from Amazon, Apple, Qualcomm and AMD this week related to the technology sector.
In addition, companies such as Mastercard, McDonalds, Starbucks and Coca-Cola will be monitored under the consumer sector.
In general, all sub-indices have hit 52-week highs this year except for the technology and telecommunications sectors.
Commenting further, they believe that the local market is catching up as the wider market is positive and coupled with the KL20 peak catalyst where Malaysia will focus on the technology ecosystem in the future.
The firm is also prioritizing the construction, real estate, utilities, solar and building materials segments due to higher demand for renewable energy under the National Energy Transition Roadmap (NETR).
It also expects a good recovery in mega infrastructure projects this year.
