KUALA LUMPUR: Bursa Malaysia closed higher on Tuesday, supported by bargain hunting activities following the previous day's sell-off.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the FTSE Bursa Malaysia KLCI (FBM KLCI) remains attractively valued, underpinned by resilient domestic economic fundamentals.
“We see opportunities for selective accumulation of fundamentally sound blue chips following recent corrections. Nevertheless, persistent foreign selling, subdued liquidity and uncertainty ahead of the US Federal Reserve's policy decision and major technology earnings could limit the recovery.
“Therefore, we expect the FBM KLCI to consolidate with a mild upward bias, trading within the 1,600-1,630 range for the rest of the week,” he told Bernama.
