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Santa Claus Rally: Historically, stock markets perform well during the last five trading days of the year and the first two of the new year. The FBM KLCI remains above the 1,600 level but may face profit-taking pressure due to Wall Street’s recent selloff. Lower liners might also see selling activity.
Focus on Manufacturing PMI: Key manufacturing data releases from the US, China, EU, and Malaysia will be in the spotlight this week.
Plantation Sector: Likely to see bargain hunting as CPO prices rallied last Friday.
Technology Sector: May face selling pressure due to Nasdaq’s decline.
Technical Analysis: The FBM KLCI remains strong above 1,600, surpassing the SMA50 for the first time since October 2024. Indicators such as MACD and RSI are positive. Resistance is at 1,645, with support at 1,600. – Apex Research
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