Legs for Bursa to trend higher

The FBM KLCI ended on a positive note but off the day’s high amid some intermittent consolidation.

“Nonetheless, we believe there are still legs for the local bourse to trend higher going forward hence we anticipate the index to hover within the 1,755-1,765 range today.”

Market Trend: Technical View – MRDIY

Resistance levels are identified at RM1.80 (R1) and RM1.88 (R2). Support levels are pegged at RM1.65 (S1) and RM1.60 (S2).

Investment Idea (IPO Note): EIPOWER (0453)

BUY with a fair value of RM0.68 based on 14x PER over FY27F EPS, underpinned by its (i) strong order book visibility, (ii) superior technical capability, and (iii) expansion into Thailand. – Rakuten

#businessnews

Mak Joon Nien is Now CEO of Growth Markets and CEO of CIMB Singapore