FBM KLCI Steady at 1,720 as Ringgit Strengthens and Foreign Funds Flow
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.”
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
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