Bursa Malaysia closed mixed at midday as the main index was almost flat as market participants digested the US Producer Price Index (PPI) data published last Friday for clues on the next Federal Reserve (Fed) interest rate decision.
At 3.52pm, the FTSE Bursa Malaysia KLCI was down 1.83 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 in the morning session.
In the broader market, losers outpaced gainers 597 to 278, with 437 counters unchanged.
The turnover was 1.34 billion units worth RM964.02 million.
In a note today, Malacca Securities Research said local market conditions were stable despite the ringgit weakening last week as traders anticipated a potential recovery ahead of the presentation of Budget 2025 this Friday.
He also said that they expect investor interest to focus on the construction, real estate, building materials, utilities and e-invoicing sectors.
Additionally, a strengthening US dollar may shift attention towards export-oriented sectors such as gloves and technology.
The firm also has a positive outlook on the plantation sector as the upward trend in crude palm oil prices remains stable.
