The FBM KLCI surged to a 52-week high before paring the gains to just below the 1,650 level.
The strong performance was rather surprising spurred by the influx of foreign funds with the 1,630 mark decisively broken.
KLCI surge
As a result, we expect the ongoing uptrend to continue and see the index to hover within the 1,650-1,660 range today.
Though daily volume remains below expectations we believe participation from the retailers to emerge anytime soon, spearheaded by the improving market liquidity.
Meanwhile, the Ringgit maintained its ascension against the greenback to RM4.38 which is a 52-week high.
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