Tradeview Capital Nixon Wong too believes the FBM KLCI could sustain its current positive momentum with ringgit strength.
PETALING JAYA: Analysts believe that the rate decision by the US Federal Reserve (Fed) this week, at present widely expected to be a 25-basis-point cut, could shape up to be a double-edged sword for the direction of the local market.
The local benchmark FMB KLCI closed just above the psychological 1,600-point level on Sept 12, which was certainly a good sign, but other markets and even commodities such as gold were continuing their respective surges to all-time highs, including the Nikkei 225, Nasdaq, the S&P 500 and Singapore’s Straits Times Index as Malaysians enjoyed the extended weekend.
