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The FBM KLCI ended lower despite a strong opening amid a mixed regional performance. Nonetheless, buyers should emerge today after the broader market resurgence on Wall Street overnight thus expect the benchmark index to hover between the 1,610-1,625 range.
FBM KLCI retraced from earlier gains to close at its intraday low as profit-taking continued. The benchmark
index was down 0.16% or 2.54 pts to close at 1,608.95.
Majority of sectors were negative with transportation (-1.7%), energy (-1.2%), and utilities (-0.7%) leading the losses; while gainers were seen in technology (+2.1%), and telecommunications (+0.5%).
Market breadth was negative with 758 losers against 550 gainers. Total volume stood at 7.59bn shares valued at RM5.28bn.
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Nonetheless, it is highly expected that an intermittent correction may emerge anytime soon
Trend dynamics for CIMB are turning constructive, with improving momentum.
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