The FBM KLCI declined to almost the 1,610 level as foreign selling gathered momentum.
“We were surprised by the sell-down and believe a swift rebound is required to above the 1,630 mark to avoid a pro-longed consolidation for the local bourse,” says Rakuten.
Meanwhile, we expect the index to stay side-ways possibly oscillating between the 1,620-1,630 range today.
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