,KUALA LUMPUR: Malaysia's benchmark index moved slightly higher on Monday in a continuation of the recent uptrend and as investor sentiment remained positive amid an easing of new Covid-19 infections in the country.At 9.10am, the FBM KLCI was up 1.15 points to 1,590.34, reflecting the ongoign bullish momentum in the domestic market.According to Kenanga Research, the index will probably be in a consolidation mode for the time being following the jump of 99.4 points or 6.7% over the last four weeks."On the chart, following the absence of a convincing breakout from the key 200-day SMA line and given the bearish stochastics signal (as the %K line has crossed under the %D line in an overbought territory), the benchmark index could be swinging – with a marginal negative bias – between our existing support and resistance thresholds of 1,550 (S1) and 1,600 (R1) ahead," it said in its weekly technical outlook.The research house noted that the week ahead will be focused on macro news including Bank Negara's monetary policy committee meeting on Thursday as well as the July Industrial Production Index data and August palm oil industry statistics on Friday.On the corporate front, following the extension of time until end-September for the release of results announcements for the April–June quarter, the likes of YTL Power International (on Wednesday) are anticipated to publish their earnings report cards this week, it added.Blue-chip counters on the rise included Maybank up two sen to RM8.39, IHH Healthcare gaining six sen to RM6.39 and Press Metal climbing four sen to RM5.49.Public Bank was down three sen to RM4.10, Petronas Gas slid 10 sen to RM16.90 while Maxis fell four sen to RM4.60.Actively traded stocks on the wider market included Emico surging 10.5 sne to 47.5 sen, VC up 0.5 sen to 8.5 sen and Bina Puri unchanged at six sen.
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