A weakness in local market emerged

On the local front, the FBM KLCI finally relented from the continuous foreign fund selling as it closes below the 1,600 level. Admittedly, it was another dismal day for regional markets, especially those within the SEA region. 

Market weakness

The recent weakness of the local bourse has rendered valuation to a more alluring level estimated at 14.7x currently based on 2025 numbers. For today, we expect the index to hover within the 1,595-1,605 range.

Technical View: CRESNDO (6718)

• Entry Level: RM 1.47-RM1.54
• Resistance levels are identified at RM1.65(R1) and RM1.75 (R2). Support levels are pegged at RM1.45 (S1) and RM1.37 (S2).

Read more Business News