Strong buying interest amongst the key index components continues to nudge the FBM KLCI higher. The moderating inflationary pressure that recorded at +2.4% YoY in June also provided near term impetus to the local bourse. The lower liners, however, endured another session of weakness on the back of extended profit taking activities, which we deemed to be healthy at this point of time, premised on the overbought conditions. Still, we expect the lower liners could play catch-up with the recovery move after the consolidation phase. Elsewhere, investors will continue to keep a close watch on the US corporate earnings releases.
Start investing with a single click.