{"id":24082,"date":"2025-08-26T10:27:10","date_gmt":"2025-08-26T10:27:10","guid":{"rendered":"https:\/\/www.europesays.com\/ie\/24082\/"},"modified":"2025-08-26T10:27:10","modified_gmt":"2025-08-26T10:27:10","slug":"local-bourse-hovers-near-1600-mark-as-traders-digest-gains","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/ie\/24082\/","title":{"rendered":"Local bourse hovers near 1,600 mark as traders digest gains"},"content":{"rendered":"

KUALA LUMPUR: The FBM KLCI was slow out of the blocks as traders digested the previous day’s gains, which had extended the overbought valuations of the stocks.<\/p>\n

There are expectations of profit-taking on the domestic market as the rally that had begun at the start of August started feeling the reality of gravity.<\/p>\n

At 9am, the FBM KLCI was up a marginal 0.45 points to 1,602.9, suggesting investors were holding tight to the 1,600 psychological level.<\/p>\n

“Having reversed its earlier decline in May 2025, the benchmark index is trending upward with consistent higher highs and higher lows, underscoring a bullish stance.\u00a0<\/p>\n

“We believe that holding above the 1,600 level could provide the momentum needed to reach 1,650 in the near future,” said Rakuten Trade in its erport.<\/p>\n

However, the broker said it does not discount the possibility of profit-taking after five consecutive days of gains.<\/p>\n

Separately, Malacca Securities said in a note the local bourse is likely to trade on a positive tone despite Wall Street’s negative overnight performance.\u00a0<\/p>\n

It said the upcoming rate-cut expectation may buoy technoloy stocks, citing buying support in Unisem, Inari Amertron<\/a><\/a> and Frontken, which it views as proxies for Apple, TSMC and a potential recovery in China.\u00a0<\/p>\n

Active in early trading, Velesto<\/a><\/a> dropped 0.5 sen to 19.5 sen, NexG shed 0.5 sen to 48.5 sen and Mestron slid 0.5 sen ot 24 sen.<\/p>\n

Magma, rebounded 2.5 sen after the extended sell-off on news of its chairman’s involvement in the MBI investigation.<\/p>\n

Avillion was up 0.5 sen to 7.5 sen after it was reported that the son of Indonesian coal billionaire Low Tuck Kwong of PT Bayan Resources Tbk had acquired a 9% stake in the company.<\/p>\n","protected":false},"excerpt":{"rendered":"KUALA LUMPUR: The FBM KLCI was slow out of the blocks as traders digested the previous day’s gains,…\n","protected":false},"author":2,"featured_media":24083,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[175],"tags":[18259,79,18,2093,19,17,18260,188,1086,4678],"class_list":{"0":"post-24082","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets","8":"tag-bursa-malaysia","9":"tag-business","10":"tag-eire","11":"tag-equities","12":"tag-ie","13":"tag-ireland","14":"tag-klci","15":"tag-markets","16":"tag-stock","17":"tag-trading"},"share_on_mastodon":{"url":"","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/24082","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/comments?post=24082"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/24082\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media\/24083"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media?parent=24082"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/categories?post=24082"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/tags?post=24082"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}