The FBM KLCI managed to close positively but remained below the psychological 1,600 mark attributed to some late profit taking activities.
Nonetheless, we deemed the lower daily volume traded as positive signalling that the selling may be at its tail-end.
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Infineon
“We believe recent positive news flow particularly from Infineon and its RM30bn additional investments in Kulim will add to the optimism surrounding the nation’s Tech sector of late.
“For today, we expect the index to hover within the 1,595-1,610 range,” says Rakuten.
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