The index continued its upward trend, reaching 1,590, with potential to break the 1,600 resistance level. Indicators suggest strong buying momentum.
Sector Focus: REIT sector
Funds may shift towards Asian markets due to U.S. market uncertainties. The REIT sector remains resilient, while the plantation sector benefits from rising CPO prices.
• Technical Outlook: The FBM KLCI formed a doji candle, with indicators still positive. Key resistance is at 1,630, with support around 1,570.
• U.S. Markets: The S&P 500 closed flat after a strong rally, while the Dow dropped (-0.4%) and the Nasdaq gained (+0.4%).
• Asian Markets: Hong Kong’s Hang Seng surged (+3.7%) on AI optimism, while China’s indexes were mostly flat. Japan’s Nikkei fell (-0.8%) due to a stronger yen, and South Korea’s KOSPI rose (+0.3%) amid mixed U.S.-India political signals.
Leave a Reply
You must be logged in to post a comment.