The FBM KLCI’s upward momentum is fading after briefly surpassing the 1,580 resistance level, with foreign funds expected to remain net sellers as investors favor Hong Kong’s valuations and growth potential. With no clear catalysts, a cautious trading approach is advised.
Sector Outlook:
REITs and plantations remain defensive picks amid market volatility, while export-oriented sectors like gloves, furniture, and technology may benefit from a weaker MYR against the USD.
Technical Outlook: The index is drifting lower but maintains positive indicators, with the MACD above the Signal Line and RSI near 50. Key resistance is at 1,630, with support around 1,570.
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