Bursa Malaysia likely to stage rebound after Christmas holidays

KUALA LUMPUR (Bernama): Bursa Malaysia is anticipated to stage a rebound after the Christmas holidays, buoyed by continuous support from foreign funds and improving economic conditions.

Rakuten Trade equity research vice-president Thong Pak Leng said, from a technical perspective, the FTSE Bursa Malaysia KLCI (FBM KLCI) failed to surpass the critical resistance level of 1,465 despite a few attempts, followed by four consecutive days of decline and broke below the 20-day exponential moving average (EMA) on Friday.