KUALA LUMPUR: With Budget 2024 to be tabled later in the afternoon, investors could be cashing out of recent gains as they stay to the sidelines in anticipation of new developments.
According to Malacca Securities Research, investors could also take the opportunity of hotter-than-expected US inflation data and a weak US market performance to take money off the table.
"The rally in lower liners may also come to a halt, taking cue from the weakness on Wall Street overnight," said the research firm.
Meanwhile, it said Budget 2024 is expected to remain expansionary with the healthcare, education, construction and, digital transformation, telecommunication and renewable energy sectors to emerge as some of the key winners.
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