The FBM KLCI dropped to 1,590 due to profit-taking, likely driven by foreign fund outflows.
Fund flows
However, expectations remain that regional fund inflows could benefit the local market. The index is expected to trade within the 1,590-1,600 range today.
Gold prices have surged past USD2,900/oz, with USD3,000/oz as the next target.
Technical View – SUNWAY (5211):
• Resistance: RM4.85 (R1), RM5.10 (R2)
• Support: RM4.58 (S1), RM4.44 (S2)
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