Ringgit Weakened in Feb
The market sentiment is expected to remain subdued, influenced by Wall Street’s weak performance and a broad-based selloff in US Treasuries.
The FBM KLCI is likely to sustain its downtrend towards the 1,600 psychological level, with increased volatility potentially dragging lower-tier stocks further down. Investors are cautious, awaiting key US employment data, while foreign funds are expected to remain net sellers due to the absence of strong recovery catalysts.
• The energy sector may face corrections as Brent crude oil prices hover near $77.3 per barrel.
• Export-oriented sectors like gloves, furniture, and technology might benefit from a weaker MYR against the USD, enhancing global competitiveness.
The FBM KLCI has slipped toward the middle Bollinger Band, with mixed technical indicators—MACD remains above the Signal Line, but RSI has dropped below 50. Resistance is seen at 1,645, with support around 1,600.
Read more Business News
Shopee expanded its Rai Lokal Jelajah Komuniti programme to Johor, equipping local entrepreneurs with digital…
Vertiv introduced the first converged physical infrastructure digital twin for NVIDIA Omniverse DSX, enabling faster…
API (Application Programming Interface) integration allows different software systems to connect and exchange information automatically.…
KiN Hotel Group enters Malaysia through the takeover of Hotel Maya Kuala Lumpur, bringing its…
Generali has launched Redion, unifying Europ Assistance and GEB under one global Care platform to…
Manulife IM Malaysia introduces the Singapore Equity Fund, offering investors access to income and growth…
This website uses cookies.