KUALA LUMPUR (Nov 8): Inter-Pacific Securities Sdn Bhd said the near-term market outlook looks to stay indifferent as market players await for fresh catalysts to emerge to provide it with a new direction. “Consequently, local stocks are likely to stay subdued for now as it will be attempting to find some measure of stability after the market’s negative reaction to some of Budget 2022’s proposals. “There immediate support is at the 1,530 level, followed by the 1,520 level. Inter-Pacific said investor interest on the lower liners and broader market shares are also looking insipid and this is likely to see these stocks staying mixed-to-lower in the near term. “As it is, there are still few noteworthy catalysts for market players to follow and this will keep most retail players on the sidelines for now,” it said.
