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The FBM KLCI closed higher as bargain hunting activities emerged after a 7-day decline. However, we noticed daily volume traded has declined tremendously to below the 4bn units threshold hence expect this to improve soon to sustain the recent uptrend.
“As such, we anticipate the index to trend between the 1,600-,1610 range today as valuation remains reasonable amongst the blue chips. Meanwhile, crude oil prices were mostly higher with the Brent crude closing in to the USD87/barrel on heightening geopolitical tension and improving demand,” says Rakuten Trade.
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