KUALA LUMPUR: The upside trend on the domestic market remains intact, say analysts, despite the recent profit-taking pressure.
At yesterday's close, the FBM KLCI ended a four-day winning streak after falling 16.43 points to 1,538.13, with profit-taking in plantation stocks weighing heavily on the index.
Rakuten Trade said the FBM KLCI underwent a transition as it closed below 1,540 after adjustments for dividends among some heavyweights.
"We believe stock accumulation will return hence we expect the index to continue its march towards the 1,600 level. For today, we reckon the index to hover within the 1,540-1,550 range," it said in its daily market report.
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