FBM KLCI could turn sideways ahead of CNY

TheStar Mon, Feb 05, 2024 09:10am - 2 months View Original


KUALA LUMPUR: There could be some sideways movement on the domestic market as the Chinese New Year festive period approaches even as investors turn their attention towards further economic developments.

Apex Securities Research said the FBM KLCI has stabilised above the 1,500 psychological level, and could extend the sideways trend above the support.

Meanwhile, investors could turn more defensive on the lower liners as they experience renewed volatility.

"Economic wise, investors will be keeping a close tab onto the release of China, Eurozone and US services PMI data to be release later today.

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