The FBM KLCI closed below the 1,640 mark as selling from foreign funds gathered momentum. Regionally, sentiment has turned extremely cautious amid the escalating tensions in the middle east.
Bargain hunting
“Judging by the recent unloading of riskier assets, we believe investors may have switched to “Cash is King” mode.
“Nonetheless, we expect some bargain hunting activities to emerge and anticipate the index to hover within the 1,635-1,645 range today,” says Rakuten.
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