Meanwhile, trading on the local bourse remained subdued as the FBM KLCI ended broadly lower in line with the regional downtrend.
The recent talks of the imminence of elections could shift the market focus to construction players, say analysts in the latest market report
"The Oil & Gas sector may see some buying as well with the Brent crude continued with its upside now US$94/barrel on tight supply as deal with Iran on nuclear deal faded."
Key regional markets closed broadly higher last Friday. Nikkei 225 and STI gained 0.53% and 0.91% to end at 28,214.75 and 3,262.95 respectively. Meanwhile, HSI and SHCOMP surged 2.69% and 0.82% to end at 19,362.25 and 3,262.05 respectively.
Yesterday, Malaysian equities closed higher due to bargain hunting activities. The benchmark index gained 0.21% or 3.08 points to end at 1,491.35
There may be some buying interests on Energy stocks today as OPEC decides to cut its output that saw the Brent crude price jumped to almost the US$96/barrel
Analysts expect the telecommunications index to trend within the 1,485-1,505 range today