The local bourse remains under selling pressure due to external factors and concerns over high AI development investments, particularly following the emergence of the Chinese-backed DeepSeek model. Negative sentiment is expected to persist ahead of the Chinese New Year break and key U.S. economic data, including the Federal Reserve’s interest rate decision, GDP, and inflation figures.
Sector Focus: construction
Defensive sectors like REITs and Financials are preferred to mitigate volatility.
Sectors such as Construction, Technology, and Utilities are to be avoided due to current market instability.
FBMKLCI Technical Outlook
The index declined for a third consecutive session, forming a bearish trend. Indicators like the MACD and RSI remain negative. Immediate resistance is at 1,600, while support is at 1,530.
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