Wall Street and Malaysia stock market
The FBM KLCI maintained its uptrend albeit at a lacklustre pace as illustrated by the low daily volume traded that is stuck at the 3bn shares level.
“For today, we believe buying activities may gain some traction after the modest US CPI data overnight thus expect the index to hover within the 1,610-1,620 range. Meanwhile, we anticipate the MYR to strengthen against the greenback going forward and dip below the RM4.40 mark anytime soon,” says Rakuten Trade.
Technical View: NESTCON (0235)
Resistance levels are identified at RM0.455 (R1) and RM0.49 (R2). Support levels are pegged at RM0.41 (S1) and RM0.375 (S2).
Technical View: LINK REIT(832,HK)
Resistance levels are identified at HKD37.35 (R1) and HKD40.50 (R2). Support levels are pegged at HKD33.00 (S1) and HKD30.10 (S2).
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