FBM KLCI seen retesting 1,670 level as softening US job market keeps rate cut expectations elevated

From missing exams to rejected from civil service: Why Malaysia-born stateless persons fear citizenship law change will forever trap them in limbo

“Despite the mixed US economic data, recession concerns seem overstated,” he said, seeing a gradual improvement in market sentiment as the week progresses. He added that this week’s domestic market setback offers a compelling buying opportunity due to more attractive valuations. However, he said investors should remain aware of the market’s heightened sensitivity to US economic data.

Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said from a technical standpoint, the 20-day and 50-day exponential moving averages are both trending upward, with the index staying above them. This signals a continued bullish trend in the short and medium term, though the proximity to the 20-day EMA hints at potential consolidation.

The FBM 70 Index was weaker by 349.47 points at 17,094.45 and the FBM ACE Index dropped 31.64 points to 5,084.45. The Main Market’s volume decreased to 8.66 billion shares worth RM14.01 billion against 10.26 billion shares worth RM19.34 billion a week ago.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Market outlook: FBM KLCI shows bullish momentum, set to consolidate between 1,680-1,700 next weekKUALA LUMPUR, Aug 31— The FBM KLCI is anticipated to trend within the range of 1,671-1,700 next week as investor sentiment is expected to improve regionally and globally, said...
Source: malaymail - 🏆 1. / 86 Read more »

FBM KLCI surges to near 4-year high as banking stocks lead rallyBANGKOK: Pheu Thai MPs have voted to expel Palang Pracharath Party (PPP) from the coalition because they believe PPP leader General Prawit Wongsuwan was behind Srettha Thavisin’s removal as prime minister.
Source: staronline - 🏆 4. / 75 Read more »