The FBM KLCI closed higher on late buying in selected heavyweights, suggesting early signs of accumulation on dips.
While the index shows resilience, overall participation remained measured as investors stayed cautious.
Benchmark
We expect the benchmark to trade within the 1,725–1,740 range today.
Technical View: MRCB (1651)
Resistance levels are identified at RM0.36 (R1) and RM0.39 (R2). Support levels are pegged at RM0.315 (S1) and RM0.29 (S2).
Investment Idea: MTTSL (5352)
BUY with a higher fair value of RM0.52 (previously RM0.39), based on an unchanged valuation of 25x PER over FY8/27F EPS, underpinned by (i) new brands win, (ii) a fast-growing non-food segment, and (iii) expansion of new verticals. – Rakuten
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