FBM KLCI in Healthy Correction. To resume uptrend soon

Malaysia’s FBM KLCI corrects mildly after strong run-up, but analysts see it as a healthy correction.

“We view this as a healthy development and expect the local bourse to resume its uptrend anytime soon. As such, we expect the index to hover within the 1,670-1,680 range today,” says Rakuten Trade.

Healthy Correction

Malaysia’s FBM KLCI experienced a mild correction, closing lower after a robust month-long rally. Analysts view this as healthy consolidation, anticipating a quick resumption of the uptrend. The index is expected to trade within 1,670-1,680 today.

Wall Street records highs ignoring US-Venezuela conflict; Hong Kong surges on tech rotation.

Wall Street surged to fresh records, with the S&P 500 and Dow Jones hitting all-time highs as traders overlooked US-Venezuela tensions, driving positivity into tech stocks. The US 10-year yield rose slightly to 4.169%.

In Hong Kong, the Hang Seng Index climbed to a 7-week peak on rotation into undervalued Chinese tech stocks and a strengthening Yuan reaching a 30-month high against the USD.

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