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CI likely to face overhead resistance at 595-600 levels.(Kuala Lumpur Stock Exchange Composite Index)(Brief Article)
LAST week, the local bourse weakened to 564 level before staging a late rebound to close at 575.67 points on Friday. It did respond to the excitement of the week when the US Federel Reserve announced a surprise rate cut of 50 basis points.
The local bourse failed to stage a follow-through rebound from the previous week's momentum when it rebounded from its low of 547.72 on April 10 to 581.37 on April 13. It moved marginally higher to 581.68 last Monday.
The local bourse's benchmark, the Kuala Lumpur Stock Exchange Composite Index, moved marginally higher to 581.68 level on Monday before moving sideways over the last three trading days.
The CI opened marginally lower to 581.04 level on Monday compared to last Friday's …
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