M+ Online
24th January 2022

Market Pulse - Oversold And Forming A Base

The FBM KLCI ended marginally lower on Friday as the negative sentiment persisted throughout the week, in line with the regional downtrend movements. With Nasdaq being pressured in the recent sessions into the oversold region, we believe investors cherry pick selected big technology names in the local front for short term bargain hunting activities. Meanwhile, the upcoming FOMC meeting on Wednesday will be a crucial for investors to judge the speed of rate hikes going forward.

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