Trading activities are expected to revolve around the sectors such as consumer and banking stocks due to their defensive characteristic as well as the interest up-cycle environment, Malacca Securities said in a note.
It said that besides, the healthcare sector may see some buying interest after Singapore reported more cases on monkeypox.
On the flip side, the stockbroking firm said that selected technology stocks may pull back following the performance in Nasdaq.
On the local market, it said that the FBM KLCI (+0.2%) managed to eke out marginal gains at the eleventh hour of the trading session, spurred by gains in selected banking and Petronas-related heavyweights.
It said that the lower liners, however, retreated, while the broader market ended mixed with the technology sector (-1.9%) underperformed.
On the global market, the stockbroking firm said that Wall Street rebounded from a choppy session as the Dow (+0.3%) rose ahead of the earnings release by the mega-cap technology stocks like Apple, Amazon, Microsoft, and Meta later this week. The European stock markets ended mostly higher, but Asia stock markets closed mostly negative.
