US Feds no rate hike a boost for local market
Market Outlook: The FBM KLCI is expected to trade positively, influenced by Wall Street’s strong performance. Improved sentiment, driven by local institutional funds and year-end window dressing, is countering foreign fund outflows.
Key global focus remains on the upcoming US CPI data, which could signal the Fed’s next interest rate move.
Technical Commentary: The FBM KLCI extended its gains for a fourth session, with positive indicators (MACD above Signal Line, RSI > 50). Resistance is at 1,625; support at 1,570.
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