KUALA LUMPUR: Bursa Malaysia ended the morning session higher although the broader market remained negative.

       At 12.30pm, the FBM KLCI was up 4.44 points to 1,530.37. There were 452 decliners on the market compared to 335 gainers, as investor sentiment remained cautious due to a lack of catalysts.

       TA Securities expects trading to stay choppy following the recent sell-off, with concerns over inflation and rising US interest rates to keep investors on edge.

       “As for the index, immediate support stays at 1,520, with the 1,500 psychological level acting as stronger support. Crucial chart supports are at 1,470 and 1,452, the 50% Fibonacci Retracement (FR) of the 1,207 low of March 2020 to the December 2020 peak of 1,695, which matched the Nov 2020 low.

       “Immediate resistance is revised to last week's high of 1,570, with 1,580, 1,600, and 1,620 as stronger upside hurdles,” it said.

       According to Hong Leong Investment Bank, Bursa Malaysia is likely to stay in lacklustre and choppy mode ahead of the key US May CPI data and FOMC meeting, coupled with the renewed political fluidity.

       “Crucial supports are pegged at 1,500-1,512-1,520 whilst resistances are situated near 1,531-1,554-1,565 zones,” it said.

       On Bursa Malaysia, F&N rose 70 sen to RM20.50, Hong Leong Financial Group added 20 sen to RM19.88, Dutch Lady gained 20 sen to RM33.10 and Heineken climbed 20 sen to RM24.70.

       Nestle shed 80 sen to RM133, PPB Group lost 42 sen to RM16.14, Malaysia Smelting Corp fell 28 sen to RM3.18 and Hong Leong bank eased 14 sen to RM20.98.

       ACE Market debutant LGMS Bhd is the second most actively traded counter on Bursa Malaysia. The counter rose 14.5 sen, or 29% to 64.5 sen with 137.65 million shares traded.

       Dynaciate Group, the most active counter on Bursa added three sen to 20.5 sen with 178.58 million shares done.