FBM KLCI showed signs of recovery after closing at an intraday high yesterday. Following the closing of earnings season, investors will now turn their attention to the US services PMI and jobs report expected later this week.
Market recovery
“We expect the local market to extend its recovery trend, tracking the overnight gains in the Wall Street. Sector wise, the Plantation sector may continue to garner buying interests on the back of appreciation in CPO prices,” says Apex.
Energy sector
Energy sector could also see some bargain hunting activities following the surge in oil prices on fears of escalating tension between Israel and Lebanon as well as further OPEC+ supply cut.
Read more Business News
Leave a Reply
You must be logged in to post a comment.