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The FBMKLCI maintained its climb to close at a YTD high and we believe there is still more room for upside in the current market rally.
“We also noticed that daily volume has been improving and this is a positive sign for the smaller caps which have yet to excel in a broader sense. For today, we expect the index to hover between the 1,605-1,620 range underpinned by higher liquidity,” says Rakuten.
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FBM KLCI rebounded, as buying interests returned across the board. The benchmark index was up 0.49% or 7.88 pts to close at 1,611.11.
Majority of sectors were positive with technology (+1.8%), consumer (+0.9%), and construction (+0.8%), leading the gains; while losers were seen in health care (-3.6%), and transportation (-0.2%). Market breadth was positive with 720 gainers against 492 losers. Total volume stood at 6.05bn shares valued at RM4.35bn.
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