FBM KLCI up on bargain hunting
Today, the KLCI opened 0.1 point higher at 1,663.96 at 9am. At 9:07am, the KLCI rose 0.73 point to 1,664.59. On Friday, the KLCI fell 26.79 points to close at 1,663.86.
Today, TA Securities Holdings Bhd wrote in a note : “The local market should suffer further losses early this week following last Friday’s severe selloff, which saw momentum indicators weakening further and trend indicators signaling a continuation of the current bearish trend.”
“Fears over rising global trade tensions as China responded to US’ aggressive trade war should see investors staying cautious, until a compromise is reached, when the market may then stage technical rebound from extreme oversold conditions,” TA said.
Source: The Edge