The FBM KLCI’s erratic performance persisted, closing below the 1,575 level, likely due to foreign selling pressure. Hopes for a Chinese New Year rally appear diminished.
Meanwhile, Moody’s reaffirmation of Malaysia’s “A3” sovereign credit rating highlights the country’s stable, investable status. The index is expected to trade within the 1,570-1,580 range today.
Technical View (SPRITZER – 7103):
• Resistance Levels: RM3.15 (R1), RM3.26 (R2)
• Support Levels: RM3.00 (S1), RM2.87 (S2)
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