KUALA LUMPUR, July 28 — Bursa Malaysia extended its gains on Tuesday as broad-based buying pushed the FBM KLCI above the 1,710-point level, reflecting improving investor sentiment across key sectors.
Market observers expect the positive momentum to continue, with the benchmark index likely to trade within the 1,710 to 1,725 range.
Inflation concerns
The outlook is supported by easing crude oil prices, which have slipped below US$89 per barrel, helping to ease inflation concerns and improve overall market sentiment.
On the technical front, SFP Tech Holdings Bhd (SFPTECH) climbed to a fresh multi-month high, with accumulation recommended between RM0.345 and RM0.355. Immediate resistance is seen at RM0.355, followed by RM0.39, while support levels are identified at RM0.345 and RM0.317.
In Hong Kong, China Construction Bank-H remains a preferred technical play, offering an estimated 19.9% upside potential and a 4.9% dividend yield. The stock has resistance at HK$9.10 and HK$9.50, with support at HK$8.70 and HK$8.45.
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