The FBM KLCI slumped to below the 1,570 level as foreign selling continues in tandem with the broad-based regional declines.
Investor vigilance
“The recent foreign sell-down has been unrelenting and though we see this as an opportune time to accumulate shares, we advocate investors to remain vigilant,” says Rakuten Trade.
At current levels, the local bourse is trading at a reasonable 14.5x CY25 PER and we still hold the view that foreign buyers may return anytime soon. For today, we expect the index to trend within the 1,565-1,575 range as confidence has turned fragile
Investment Idea (IPO): PGLOBAL (5331)
BUY with a fair value of RM0.87, based on a PER of 11x (sector average for companies of similar size in the region) over FY2/26 EPS.
Technical View: IHH (5225)
Resistance levels are identified at RM7.44 (R1) and RM7.56 (R2). Support levels are pegged at RM7.20 (S1) and RM7.05 (S2).
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