The FBM KLCI ended positively as foreign funds turned net buyers. Nonetheless, market undertone remains cautious as illustrated by the low daily volume traded at below 2.8bn shares.
“We noticed the index is still consolidating within the 1,630-1,680 range and needs to break the 1,680 level decisively before the upward trajectory resumes towards the 1,700 mark.
“Despite the lack of catalysts currently, we hope recent strong performance of the crude palm oil (CPO) price may attract some interests on the planters hence expect the index to hover within the 1,635-1,645 range today,” says Rakuten Trade
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