The local stock market remains uncertain despite the FBM KLCI’s gains, as overall market sentiment remains cautious due to external uncertainties. However, recent net buying by foreign funds and increased trading activity post-festive break may support a continued recovery.
Sector Focus:
Positive Outlook: Export-related sectors (Technology, Furniture, Gloves) may benefit from a stronger USD against MYR, while the Plantation sector could see buying interest due to rising CPO prices amid weaker output.
• Cautious Outlook: Oil & gas stocks may face pressure from weaker oil prices.
Technical Outlook: The FBM KLCI remains bullish, recovering above the SMA50. Positive indicators include the MACD Line staying above the Signal Line and RSI above 50. Resistance is at 1,630, while support is at 1,570.
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