Foreign Selling Weighs on KLCI; Select Opportunities Remain in THMY, CITIC, GDGROUP

The FBM KLCI ended lower after an early rally, as foreign investors were seen trimming positions following recent accumulation. Market sentiment is expected to remain cautious, with the index likely to trade within the 1,680 to 1,695 range in the near term.

From a technical perspective, THMY (0375) is showing defined trading boundaries, with resistance at RM1.20 and RM1.30, while support is seen at RM1.03 and RM0.93. The stock may remain range-bound unless a breakout occurs.

Foreign Selling

In Hong Kong, CITIC Limited (0267) presents a more constructive outlook, supported by a potential 10.9% upside and a 5.1% dividend yield. Technical indicators remain positive, with resistance at HKD13.50 and HKD14.50.

Meanwhile, GDGROUP (0398) is highlighted as an IPO investment idea, with a fair value of RM0.49, driven by distribution strength, regional expansion, and improving travel demand fundamentals. – Rakuten

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