FBM KLCI in wait-and-see mode as Budget 2026 comes into focus

KUALA LUMPUR: The domestic market was off to a slow start on Friday as traders held their positions ahead of the tabling of Budget 2026.
The FBM KLCI dropped 1.51 points to 1,628.16 at the opening bell, and is expected to see slow action over the rest of the session.
This is in line with the trading of the ringgit, which remained little changed against the US dollar. As at 9am, the local note stood at a middle rate of 4.2135.
"Range-bound trade is expected to persist as investors evaluate the government's Budget 2026 proposal for potential sector-specific catalysts ahead of the weekend," said TA Securities in its daily outlook.
Rakuten Trade noted that foreign funds remained net sellers following massive net outflows of RM878mil over the last three days.
However, it said domestic funds are accumulating local stocks, and that retail participation may be improving as observed from the uptick in trading volume above 4.7 million shares yesterday.
Top Glove was the most active share on the market following yesterday's announcement it had returned to the black on stronger demand for latex gloves. The glove manufacturer extended the previous day's rally by another 0.5 sen to 67.5 sen with 27.97 million shares crossed.
Traders also bought up other glove makers on the heels of the result on optimism for the sector. However, there was some profit-taking today with Hartalega dropping two sen to RM1.28 and Supermax shedding 0.5 sen to 50 sen.

Sumber : thestar.com.my