Moody’s reaffirmation of Malaysia’s “A3” sovereign credit rating highlights the country’s stability

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.

Sovereign credit

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)