Market Sentiment Rebounds on OPR Cut and Global Tech Rally
Market Sentiment Rebounds on OPR Cut and Global Tech Rally
Investor sentiment turned more upbeat across the board, driven by Bank Negara Malaysia’s rate cut and strong global tech-led gains. The FBM KLCI ended its losing streak, while global markets continued their upward momentum amid optimism over trade prospects and robust earnings.
Brief Segment Breakdown: Sentiment Rebounds
Malaysia Market Review • FBM KLCI rebounded 0.5% to 1,536.52, ending a three-day slide. • Gains led by banking stocks; sentiment lifted by BNM’s 25-bps rate cut. • Most sectors rose, except plantations and energy which lagged behind.
Global Markets Review • US markets hit new highs, led by the S&P 500 and Nasdaq; Dow gained 0.4%. • European shares climbed on trade optimism and mining strength. • Most Asian markets closed higher on Nvidia’s rally; China and Hong Kong were muted. • Japan underperformed due to new US tariffs; South Korea led gains on chip stocks.
Market Outlook • Positive outlook for FBM KLCI supported by OPR cut and trade optimism. • Index expected to range between 1,530 and 1,550 ahead of weekend. • Bargain-hunting likely to persist; IPI data to offer further market direction.
Sector Focus • Buying interest expected in consumer discretionary and REITs on lower borrowing costs. • Tech stocks poised for gains on global tech momentum.
FBM KLCI Technical Outlook • Index formed a hammer candle, signaling a potential reversal. • MACD and RSI remain positive; resistance at 1,560 and 1,580, support at 1,500.