KUALA LUMPUR (Nov 30): Inter-Pacific Securities Sdn Bhd said after an extended selling streak, the market is ripe for a rebound from its oversold streak. Inter-Pacific said even as the Omicron variant concerns have not abated and will continue to dictate market conditions, near term bargain hunting could be in store as some bellwethers’ valuation are looking compelling. Therefore, it said the bouts of fresh buying could sustain for now to provide the impetus for the key index to make a recovery. “Nevertheless, the near-term positivity is likely to prevail as the key index looks to adjust from oversold that may also allow it to retest the 1,520 level. Inter-Pacific said the lower liners and broader market shares are also looking to rebound after their extended selling streak.

Source: The Edge Markets November 30, 2021 06:49 UTC