Negative pressure builds overhead
REVIEW: The FBM KLCI kept a relatively muted movement on the technical charts despite the turmoil of the US-China trade spat that continued to roil global markets.
The market had taken on a consolidation phase amid all the uncertainty even as investors chose the sidelines over a holiday-shortened week.
While tech stocks were in the spotlight given Washington’s attempt to hobble China’s Huawei, the lack of a tech presence on the FBM KLCI meant the benchmark was not directly impacted by the sanctions.
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