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.
Interest rate
Key global focus remains on the upcoming US CPI data, which could signal the Fed’s next interest rate move.
Sector Focus:
- Plantation: Potential rebound after profit-taking, supported by high CPO prices.
- Technology: Likely buying interest, tracking Nasdaq’s gains.
- Healthcare: Anticipated profit-taking after recent strong performance.
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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