Anwar and the Ringgit - a Photo collage by LatestMalaysia.com
The FBM KLCI ended higher as some bargain-hunting activities emerged. The benchmark index closed just below the 1,455 mark as trading remains lacklustre.
Spurred by the strengthening Ringgit, interest on local equities seems decent from foreign funds but the upside has been capped by selling from local institutions. Notwithstanding this, the index may still have legs to test the 1,500 level thus expect the index to hover within the 1,455-1,470 range today as the domestic stocks are ripe for pickings, especially the Banks.
“Spurred by the strengthening MYR, interest on local equities seems decent from foreign funds but the upside has been capped by selling from local institutions.
“Notwithstanding this, we reckon the index may still have legs to test the 1,500 level… as the domestic stocks are ripe for pickings, especially the Banks,” says Rakuten.
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