JAKARTA: Indonesia's President Prabowo Subianto removed on Tuesday (June 2) the head of the body responsible for his signature free school meals programme, which has been blighted by mass food poisonings and corruption claims.
KUALA LUMPUR: Bursa Malaysia moved cautiously higher after an extended holiday break with investors wary over developments in the Middle East despite the fresh records charted on Wall Street in recent days.
The FBM KLCI opened 4.06 points higher at 1,687.13, shored up by the AI-drive rally in global markets. Apex Securities said near-term market attention will be focused on key US labour market indicators, including the ADP employment report and upcoming non-farm payrolls data, for further clues on the Federal Reserve's policy trajectory. The domestic main index is anticipated to remain range-bound as cautious regional sentiment and mixed foreign fund flows continue to limit upside momentum despite the improving external backdrop.
The research firm's technical reading on the FBM KLCI is also turning bearish following a"double-top formation" on the price chart after the index broke below its key rising trendline support.
"A decisive break below the 1,680-neckline support could confirm the bearish reversal pattern and trigger further downside pressure, potentially leading to a deeper corrective phase. Immediate resistance is seen at 1,700," it said in its technical outlook. Among the blue chips, Gamuda leapt 15 sen higher to RM4.35, RHB jumped 11 sen to RM8.32, YTL Power rose nine sen to RM4.25 and Nestle gained RM2.20 to RM93.20.
Of actives, Bus Cap made its debut on the ACE Market, rising seven sen to 30 sen after 34.48 million shares done. Follow us on our official
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