Photo by Pixabay on Pexels.com
The local stock market is showing signs of stabilization as selling pressure decreases, though volatility may persist due to upcoming reciprocal tariffs set for April 2, 2025. The key index is projected to trade between 1,485 and 1,530.
Lower liners, which recently rebounded, might enter a consolidation phase as trading slows ahead of the Hari Raya festive break. Investors are focused on upcoming flash PMI data from major economies like Japan, the Eurozone, the UK, and the US.
In terms of sectors, the energy sector could see further gains due to rising oil prices following US sanctions on Iran and OPEC+’s planned production cuts until June 2026, signaling tighter supply. The technology sector is expected to follow the positive trend seen in the Nasdaq last Friday.
Technically, the FBM KLCI formed an inverted hammer candle, holding the 1,500 level with slight gains. However, indicators remain bearish, with the MACD below the signal line and the RSI under 50. Resistance is at 1,530, with support around 1,485.
Read More News on Business News Malaysia
Read More News on Business News Malaysia
Weststar Aviation Services signed a RM2 billion financing deal with AmBank to double its helicopter…
Industry players urge the government to create inclusive automotive incentives supporting the entire supply chain…
Kerjaya Prospek wins RM98.8m Seremban hospital job, boosting order book to RM4.3bn with strong earnings…
Trump’s war update drives Brent crude to USD109; strategic buy positions in oil and commodity…
The U.S. labor market rebounded in March with nonfarm payrolls rising +178K, the strongest gain…
YTL POWER (BUY Maintained, TP:RM3.72) Data centres are gaining traction
This website uses cookies.