Bursa reached 2019 high

The FBM KLCI surged to almost the 1,680 mark, a level last seen in Jan 2019.

“We were indeed surprised by the strong rebound principally due to accumulation by foreign funds after a minor correction a day before.

“We believe the uptrend to continue and expect the index to hover within the 1,680-1,690 range today with the crucial 1,700 as the ultimate immediate target,” says Rakuten.

Bursa high

Recent earnings released suggest that corporate Malaysia is in solid shape particularly the Banks and expect the blue chips to remain as the bastion for the local bourse.

“Next, we hope that daily volume traded will improve to the 6bn shares mark as the small caps are in need of additional injection of liquidity.”

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