Market sentiment remains subdued due to uncertainty surrounding Trump’s potential return to office next Monday. Despite strong earnings from major US banks, the FBM KLCI is expected to remain lackluster.
A rebound
However, a rebound could occur as bargain hunting in undervalued stocks gains traction.
• Key Watch: China’s Q4 2024 GDP and other major economic data being released today.
Sector Focus: Tech
The technology sector is favored due to the Trump administration’s likely pro-business stance on innovation, which could benefit tech companies. Export-oriented semiconductor players like INARI, UNISEM, and JFTECH stand to gain from stronger US ties.
Technical Outlook
• The FBM KLCI has declined for four consecutive sessions, falling further below the 1,600 psychological level.
• Indicators: MACD Line below Signal Line; RSI in the oversold range.
• Resistance: 1,600.
• Support: 1,530.
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