Continuous Slide For Bursa
Bursa continues its slide but the focus could be in bargain hunting of banking stocks
The FBM KLCI continued with its downtrend and is currently hovering just above the 1,400 level.
The highly anticipated bargain hunting did not occur as investors remain sidelined spooked by the regional weaknesses. Nonetheless, we reckon buying activities to emerge if the index dips to around the 1,390 mark.
"Thus, for today we expect the index to trend within the 1,400-1,410 range with the Banks ripe for pickings," says Rakuten Trade.