FBM KLCI could be further tested ahead of corporate results

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At 9.05am, the FBM KLCI was down 2.24 points to 1,523.3, reflecting the lack of buying momentum to push away from recent lows.

"In the absence of fresh buying catalysts, investors will probably be tempted to sell rather than buy shares on the Malaysian bourse at this juncture," said Kenanga Research in its weekly technical report.

Kenanga Research has pegged the FBM KLCI's immediate support at 1,510, a break of which may cause the index to drift towards the next support threshold of 1,475.is seeing some selling pressure ahead of its scheduled earnings result later today.

 

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