The FBM KLCI maintained its uptrend to close above the 1,670 mark, a level last seen in 2019.
“Despite the impressive performance by the blue chips, we noticed sentiment towards the mid and small caps remained uninspiring as most ended lower,” says Rakuten.
Although daily volume traded improved, it was insufficient to prop up the broader market.
“Despite the 40 points jump in the benchmark index since last Friday, we continue to stay positive and believe that liquidity will eventually cascade down to the broader market.
“For today, we expect the index to hover within the 1,670-1,680 range.”
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Nonetheless, it is highly expected that an intermittent correction may emerge anytime soon
Trend dynamics for CIMB are turning constructive, with improving momentum.
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