Switch to defensive stocks as investors move away from manufacturers, tech, says BIMB
KUALA LUMPUR: BIMB Securities Research has adopted a more defensive stance on Malaysian equities, expecting the FTSE Bursa Malaysia KLCI (FBM KLCI) to trade within a narrow range as a global technology sell-off and falling commodity prices weigh on market sentiment.
KUALA LUMPUR: BIMB Securities Research has shifted its investment stance on Malaysian equities, anticipating a narrow trading range for the FTSE Bursa Malaysia KLCI amid a global technology sell-off and falling commodity prices. The research firm predicts the benchmark index will swing between 1,610 and 1,630 points, with 1,600 acting as a key support level.
This strategic pivot towards defensive sectors, particularly banking and domestic infrastructure, follows a significant institutional rotation away from export-oriented manufacturers and technology stocks. The corrections in global technology shares, driven by US AI regulation concerns, have prompted institutional investors to abandon high-risk tech champions in favor of defensive financial and infrastructure heavyweights.
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