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Market Overview

MARKET AT A GLANCE

  • Malaysia
  • Regional
13 Aug
08:34 am

Based on the daily chart, the FBMKLCI continued to form lower highs and lower lows and closed at 1,556.64.

Yesterday, the FBMKLCI made a strong downward penetration of the immediate support level of 1,555, suggesting a weaker short-term outlook. Weaker movements can be expected ahead, in tandem with increasing selling pressure as shown by a downtick in the RSI and a bearish crossover in both the MACD and DMI indicators.

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12 Aug
09:14 am

Based on the daily candlestick analysis, the FBMKLCI continued to slide lower and closed at 1,564.74 yesterday.

The index slipped below the BBI lines yesterday, suggesting the short-term trend remains vulnerable to further corrections. For now, the FBMKLCI will stay above the trendline but a further slip may change the overall bullish outlook to a much more neutral bias. Going forward, there would be more downward pressure on the index if it closes below the immediate support.

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11 Aug
09:13 am

Despite yesterday’s negative closing, our outlook remains neutral for the short term as we expect further consolidation.

We expect the FBMKLCI to hover in the range of 1,555-1,618 for the time being and violation of either limit would spark a follow-through.

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13 Aug
08:33 am

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

At the close in NYSE, the DJIA rose 1.05% to hit new 3-months high, while the S&P 500 index added 1.40%, and the NASDAQ Composite index gained 2.13%.

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12 Aug
09:12 am

US stocks were lower after the close on Tuesday, as losses in the Utilities, Technology and Healthcare sectors led shares lower.

At the close in NYSE, the DJIA lost 0.38%, while the S&P 500 index lost 0.80%, and the NASDAQ Composite index lost 1.69%.

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11 Aug
09:13 am

US stocks were mixed after the close on Monday, as gains in the Oil & Gas, Industrials and Basic Materials sectors led shares higher while losses in the Healthcare, Technology and Utilities sectors led shares lower.

At the close in NYSE, the DJIA rose 1.30% to hit new 3-months high, while the S&P 500 index climbed 0.27%, and the NASDAQ Composite index declined 0.39%.

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