The FBM KLCI faced continued pressure from foreign selling, closing slightly above 1,560.
Foreign funds may be reducing their exposure ahead of Trump’s inauguration, awaiting tariff-related policies.
“As we moved halfway into January, the index has already lost 5%. Nonetheless, we believe this presents an excellent opportunity to accumulate shares thus expect the index to hover within the 1,565-1,580 range today,” says Rakuten Trade.
The index has declined by 5% in January so far, but this could be an accumulation opportunity.
Expected range for the index today: 1,565-1,580.
Investment Idea: CBHB (0339) [IPO]
• Recommendation: BUY
• Fair Value: RM0.44
• Basis: Weighted average PER of 18x (regional sector average) on FY25F EPS.
Technical View: DIALOG (7277)
• Resistance Levels: RM1.94 (R1), RM2.07 (R2).
• Support Levels: RM1.84 (S1), RM1.76 (S2).
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We expect the benchmark to trade within the 1,725–1,740 range today.
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