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The local stock market remains uncertain due to external challenges, with mild gains possible if tariff plans provide clarity. Foreign funds have resumed net selling, making recovery volatile. While bargain hunting may occur, a lack of domestic catalysts could limit gains. Investors are focused on Malaysia’s Q4 2024 GDP data, set for release today, for economic direction.
• Gold-related stocks may benefit from rising gold prices.
• Technology stocks could track Nasdaq’s positive performance.
FBMKLCI Technical Outlook:
• The index formed a bearish candle, pulling back from the 1,600 level.
• Indicators remain positive, with MACD above the Signal Line and RSI above 50.
• Resistance: 1,630
• Support: 1,570
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