Keeping OPR at 3% provides clarity for the local market

The recent uptick in the FBM KLCI indicates renewed buying interest, potentially offering a short-term rebound opportunity.

Bank Negara Malaysia’s decision to keep the OPR steady at 3% provides clarity for the local market. We expect plantation stocks to remain in focus as CPO futures approach RM5,000 per tonne.

• We anticipate the benchmark index to trade within the range of 1,630 to 1,640 today.

Technical View: SMRT (0117)

• Entry Range: RM1.10–RM1.19

• Resistance Levels: RM1.23 (R1) and RM1.40 (R2)

• Support Levels: RM1.10 (S1) and RM1.01 (S2)

Technical Play: GEELY AUTO (175.HK)

• Resistance Levels: HKD15.00 (R1) and HKD16.00 (R2)

• Support Levels: HKD13.00 (S1) and HKD12.00 (S2)

— Rakuten

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