CBD
FBM KLCI Outlook: Mild buying support pushed the index higher, with a projected range of 1,600–1,630.
Lower liners are expected to remain rangebound as investors await fresh catalysts. Amid global market volatility, funds may shift from small-cap stocks to blue-chip equities.
Key Chinese economic data (retail sales, unemployment rate, house price index, industrial production) are in focus.
Sector Focus:
Automotive: Expected to outperform, driven by aggressive year-end promotions. The MAA has revised the 2024 TIV forecast to 800,000 units, surpassing 2023’s record.
Gold-related Stocks: Despite recent declines, recovery is anticipated, supported by a likely Fed rate cut next week.
The FBM KLCI broke its five-day losing streak, reclaiming the SMA200 level, with positive indicators (MACD above Signal Line, RSI above 50).
Resistance: 1,625 | Support: 1,570.
Read more Business News
Source: Apex
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