Rakuten Trade Revises Margin Financing Rates Downward to Support Active Investors, Broad market sentiment
The FBM KLCI staged a late mini rally, surging past the 1,580 level, possibly fueled by the return of foreign funds. This unexpected push injected a wave of optimism into the market, suggesting that investor confidence is on the rise. If this bullish momentum persists, the index could be on track to re-test the 1,600 threshold in the near future.
With buying interest gaining traction, analysts expect the index to trade within the 1,580-1,590 range today. Market participants are keeping a close eye on whether the positive sentiment will sustain, potentially setting the stage for a stronger uptrend.
One stock that has caught the market’s attention is OSK Holdings Berhad (5053). Currently, key resistance levels stand at RM1.83 (R1) and RM1.93 (R2), while support is seen at RM1.70 (S1) and RM1.65 (S2).
A break above R1 (RM1.83) could indicate further upside potential, possibly pushing towards R2 (RM1.93). However, if selling pressure emerges, S1 (RM1.70) will be the first line of defense, with S2 (RM1.65) acting as a crucial support level.
As market sentiment remains upbeat, investors will be watching whether OSK can capitalize on the renewed interest in the broader market, positioning itself for ofurther gains. – Sourxe: Rakuten Trade
Read more Business News
CIMB Islamic contributes RM500,000 to UPSI Edu-Forest project supporting biodiversity conservation, research, education and Orang…
− Sandoz Malaysia has partnered with Sunway Medical Centre to expand patient access to biosimilarsthrough education and…
Raw IoT data is often just noise. AI turns this data into "actionable wisdom," explains.
Scoot has ordered 11 Airbus A320neo aircraft to enhance its fleet, supporting growth and improving…
The FBM KLCI shows positive movement, with expectations to range between 1,755-1,765, driven by anticipated…
CIMB Group appointed Mak Joon Nien as CEO of Growth Markets and CEO of CIMB…
This website uses cookies.