The FBM KLCI is expected to remain under pressure due to weak market sentiment and cautious global markets.
Corporate earnings
The index may fluctuate between 1,570 and 1,590 in the near term, with investors closely monitoring corporate earnings and US consumer confidence data.
Sector Focus
Defensive sectors like REITs and financials are favored for their attractive dividend yields, while gold-related stocks may benefit from record-high gold prices.
Technical Outlook: The index gapped down but recovered intraday losses. The MACD remains above the Signal Line, but RSI has dipped below 50, signaling mixed momentum. Immediate resistance is at 1,630, with support around 1,570.
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