Renewed buying interest in most of the index heavyweights led by the banking stocks pushed the FBM KLCI higher following the positive overnight performance on Wall Street. However, we believe selected rebound on our local front, specifically the technology stocks are likely to give back the recent gains on the back of the weaker Nasdaq performance. Nevertheless, traders could monitor few other catalysts like (i) reopening travel borders theme, (ii) elevated commodity prices and (iii) recovering construction activities for trading purposes.
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