Foreign Funds Drive FBM KLCI Past 1,660
The FBM KLCI continued its strong performance, surpassing the 1,660 mark, bolstered by consistent foreign fund inflows. Despite this upward momentum, daily trading volumes remained subdued.
Glove Stock Surge
Glove-related stocks experienced heightened interest due to the potential imposition of higher US tariffs on Chinese glovemakers, further fueling market activity.
Fed Rate
Fed Rate Cut Looms as Index Set to Hover Between 1,670-1,680
With the US Federal Reserve expected to implement a rate cut soon, the local bourse is anticipated to maintain its positive trend. Analysts project the index to trade within the 1,670-1,680 range today.
Ringgit
Ringgit Hits 18-Month High at 4.26
Meanwhile, the Ringgit strengthened significantly, reaching an 18-month high of 4.26 against the US dollar.
Technical Outlook: ECOWLD (8206)
- Resistance Levels: RM1.80 (R1), RM2.00 (R2)
- Support Levels: RM1.60 (S1), RM1.50 (S2)
Leave a Reply
You must be logged in to post a comment.