KUALA LUMPUR (Jan 18): The FBM KLCI is expected to continue trending sideways today with its hurdle seen at 1,672 points, as investors remain cautious ahead of the Lunar New Year holidays at the month. AllianceDBS Research said the non-follow through selling pressure on Jan 17 was a surprise given the size of the down move on Jan 16. The research house said following the up close on Jan 17, we should see an attempt to trade higher with immediate hurdle at 1,672. “The analysis of overall market action on Jan 17 revealed that buying power was stronger than selling pressure. “As such, the FBM KLCI would likely trade above the 1,664.90 level on Jan 18,” said AllianceDBS Research.

Source: The Edge Markets January 17, 2017 22:09 UTC