KUALA LUMPUR: The FBM KLCI is defending the newly claimed 1,600 level as profit-taking pressure mounted following the mixed performance on Wall Street overnight.
The key index was down 0.82 points at the opening bell to 1,605.84 as investors sought to take cash off the table after having retraced nearly all the losses made during the market rout a week earlier.
By 9.11am, the FBM KLCI looked in danger of losing its hold on 1,600 after falling nearly seven points to 1,599.69.
Looking at the technical charts, the FBM KLCI remained pressured by the 50-day simple moving average overheard, with a successful breach signalling more bullish price movement.
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