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Market Overview

MARKET AT A GLANCE

  • Malaysia
  • Regional
16 Jan
09:12 am

The FBMKLCI is trading within a tight range but managed to make a technical rebound yesterday.

We expect the index to trade sideways as the RSI indicator suggests flattish momentum. The index is likely to continue moving within the 1,580-1615 range. If the index fails to stay at above this level, the next support level is at 1,560.

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14 Jan
08:52 am

Given persistent selling pressure, the FBMKLCI closed in negative territory yesterday and was below both the 7-day and 21-day EMA lines yet again after hovering higher last week.

Given the downtick in the RSI which signals growing selling momentum, we expect the index to test the immediate support at 1,560 in the near term. A rebound from this level could reverse the current weakness.

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13 Jan
08:29 am

Despite last Friday’s negative closing, our outlook for the short-term remains neutral as we expect further consolidation on the back of cautious regional markets.

The index formed a “spinning top” pattern last Friday as selling pressure has been absorbed. For now, we expect a sideways movement ahead. We expect the FBMKLCI to hover in the range of 1,580-1,615 for now and a violation of either limit would spark a follow-through.

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16 Jan
09:11 am

US stocks market were higher after the close on Wednesday, as the gains in the Utilities, Healthcare and Consumer Goods sectors led shares higher.

At the close in NYSE, the DJIA gained 0.31% to hit a new all time high, while the S&P 500 index gained 0.19%, and the NASDAQ Composite index climbed 0.08%.

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14 Jan
08:52 am

US stocks market were higher after the close on Monday, as gains in the Basic Materials, Technology and Consumer Goods sectors led shares higher.

At the close in NYSE, the DJIA rose 0.29%, while the S&P 500 index gained 0.70%, and the NASDAQ Composite index gained 1.04%.

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13 Jan
08:29 am

US stocks markets were lower after the close on Friday, as losses in the Oil & Gas, Consumer Services and Basic Materials sectors led shares lower.

At the close in NYSE, the DJIA lost 0.46%, while the S&P 500 index lost 0.29%, and the NASDAQ Composite index fell 0.27%.

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CHARTGENIE