The FBM KLCI outperformed Wall Street and European markets, maintaining a two-week high ahead of the extended Hari Raya weekend. However, mild profit-taking may emerge today as investors move to the sidelines.
Energy sector
The Energy sector remains strong due to rising Brent oil prices, while the travel sector benefits from increased air passenger traffic.
Bullish momentum
Technically, the index shows bullish momentum, with immediate resistance at 1,550 and support at 1,500. Investors are watching the US Michigan Consumer Sentiment data for further cues.
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