rakuten trade market reports : Page 13

Following yesterday’s downtrend of the FBM KLCI to below the 1,590, we expect similar trading pattern to remain albeit at a less drastic manner.
Therefore, we reckon the benchmark index to hover within a tight range of between 1,585/90 today.
Meanwhile, we believe interests on the Construction sector to emerge rather soon as we have seen a number of positive news flow within the sector of late. Keep an eye on the Contractors.

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Market sentiments continue to remain high buoyed by another record breaking performance on Wall Street last week.
Improved US economic data coupled with the easing concern on the US-China trade war has had investors queuing up for equities again.
Locally we believe the FBM KLCI will continue to trend higher with the FBM KLCI surpassing the 1,600 mark today possibly testing the 1,605 level.

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Major global indices ended higher last week. Dow Jones Industrial Average Index marked a fresh record high, hitting above the 29,000 level.
The index finished 441 points higher to 29,348.1 last week. On local front, FBM KLCI rose 11.1 points to 1,595.8 as the index was mainly boosted by AXIATA following the news on merger talk with Telenor.
Weekly foreign funds were positive, posted net inflow of RM320.8m with year-to-date net inflow of RM494.9m.
There were 15 gainers versus 14 gainers in FBM KLCI last week. The performers were AXIATA (+10.05%). PETDAG (+5.97%) and PMETAL (+4.66%). Top 3 losers were SIMEPLANT (-2.03%), HLFG (-1.75%) and DIALOG (-1.45%).

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US markets continued its renewed optimism as it closes above 29,000 level on the signing of phase one trade deal. News of Trump may propose tax cut 2.0 sent the markets higher with further stimulus in the pipeline to continue feeding the bull market.
Regional market is likely to follow the positive sentiments overnight at US markets.
On the local front, FBM KLCI continue to lag behind the small mid cap stocks and tech related sector while we believe investors should take a look at laggard tech related stocks and construction stocks for the next rotational play.

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The US are moving the goal posts (again) with regard to the tariffs on Chinese goods as Mr Trump is unwilling to commit. Meanwhile expectations of a weaker than forecast earnings performance from Wall Street may be added road bumps for the equity markets.
Therefore, we are expecting another mixed performance from the regional markets. Locally, we reckon the FBM KLCI to remain mixed hovering between the 1,570/85 range.
The only consolation is that foreign investors may take advantage of the stronger Ringgit which has been the main catalyst for the fund inflows of late.
The Ringgit has appreciated by 2.3% from RM4.18 in early December 2019 to around RM4.08 currently.

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