Bursa Malaysia
The FBM KLCI added almost 3 points to stay above the 1,440 mark as market participation remains
muted. We believe in line with other regional currencies, the pressure on the Ringgit versus the US$ is still an ongoing concern.
“For today, we expect the benchmark index to hover within the 1,440-1,450 range attributed to buying support from local institutions. Meanwhile, crude oil prices eased due to a build-up in inventory as Brent crude dipped to below US$88/barrel,” says Rakuten.
FBM KLCI closed marginally higher on Tuesday, despite a mixed regional performance. The benchmark index was up 0.20% or 2.94 pts to close at 1,442.14. Majority of the sectors was positive with utilities (+1.2%), property (+1.0%), and health care (+0.8%), leading the gains; while losers were seen in transportation (-0.3%), and consumer (-0.1%).
Market breadth was positive with 410 gainers against 398 losers. Total volume stood at 2.99bn shares valued at RM1.85bn.
Strong fundamentals support resilience in the banking sector.
Structured transitions help ensure long-term stability.
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