At 9.05am, the FBM KLCI was up 0.51 points to 1,496.73.
The local sentiment is expected to stay negative, tracking the external environment as Wall Street retreated for a third straight day on fears Federal Reserve officials will remain committed to further interest rate hikes.
The research firm added that continued profit-taking in banks could also exert downward pressure on the benchmark FBM KLCI after Bank Negara surprised the market by keeping the overnight policy rate unchanged at 2.75%. It reiterated that index resistance is at 1,500 points while 1,512 and the August high near 1,528, followed by 1,550 and 1,570 are stronger hurdles.
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