KUALA LUMPUR: Bursa Malaysia concluded the morning session with gains, with broad-based buying interest seeing an almost one per cent gain in the FTSE Bursa Malaysia KLCI (FBM KLCI) .
As of 12:30 pm, the FBM KLCI increased by 14.97 points or almost one per cent to reach 1,527.25, compared to its closing level of 1,512.28 last Friday.
Tradeview Capital Sdn Bhd vice president Tan Cheng Wen noted that the market's performance appears to be broad-based, without any specific sectors driving the gains.
Malacca Securities Sdn Bhd observed that the market has been trading within a range-bound pattern over the past fortnight due to mixed sentiment leading up to the Chinese New Year break.
"We expect the buying support to return after the long break within the Construction, Property and Utilities sector supported by the trading catalysts, namely potential revival of the Kuala Lumpur-Singapore High Speed Rail (HSR) mega project and data centre investment in this region over the near term," it added.
The firm highlighted that market attention will be directed towards earnings, with the non-consumer sector potentially offering upside in earnings potential as costs normalise.
Additionally, the energy sector may see a boost from the healthy Brent oil price.
Brent oil price has remained above US$80 per barrel (/bbl), with another reported ship attack in the Red Sea indicating ongoing risks in the region.