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high quality apple developer account:Selling pressure continues

admin2020-12-22145

KUALA LUMPUR: The FBM KLCI began on a weak footing as consolidation pressures continued to weigh on the market.At 9.05am, the key index had slipped 1.94 points to 1,650.55.Investors are in a profit-taking mood in the closing days of 2020, with Bursa Malaysia coming under selling pressure last week, which brought it to a low of 1,645 and trading close of 1,652."In the absence of fresh catalysts, investors could still be in the mood to lock in their recent gains even after last week’s market slide."For those savvy investors who managed to ride on the prevailing market rally, there remain profits to be taken with theFBMKLCI still up 5.7% month-to-date and 13.1% from the trough in early November," said Kenanga Research.The research house expects the FBM KLCI to pull back further from an overbought position given the momentum on the downside.It pegs support to 1,645 and 1,600 and resistance at 1,675 and 1,720.Leading laggards in the early morning included Hong Leong Bank sliding eight sne to RM18.50, Maybank shedding three sne to RM8.43 and Nestle giving up RM2.70 to RM138.20.On the rising end, Public Bank added 30 sen to RM20.94, Petronas Ch emicals adding three sen to RM7.61 and Top Glove climbingtwo sen to RM6.66.Top actively traded stocks included Nexgram unchanged at five sen, TFP up two sen to 21.5 sen and Puncak Niaga down 1.5 sen to 41 sen.
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