The FBM KLCI edged higher yesterday but is expected to remain in a consolidation phase amid cautious market sentiment.
Key focus this week includes the upcoming US December nonfarm payrolls report.
Foreign funds are likely to continue as net sellers due to a lack of strong catalysts, but this trend may reverse as Malaysian stocks remain attractively valued.
• Technology: Expected to gain traction, benefiting from Wall Street’s optimism on artificial intelligence and the resilient USD, which supports export-oriented stocks.
• Construction: Momentum likely to continue, driven by positive sentiment surrounding the Johor-Singapore Special Economic Zone (JS-SEZ).
• The FBM KLCI rebounded after three days of losses, supported by bargain hunting.
• Indicators remain positive, with the MACD above the Signal Line and RSI above 50.
• Key levels: Resistance at 1,645, support at 1,600.
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