KUALA LUMPUR (Dec 13): Inter-Pacific Securities Sdn Bhd said the near-term outlook is likely to stay in a low gear with the Omicron concerns and the lack of impetus to keep the Malaysian equity market subdued. It said sentiments also turned weaker in tandem with the insipid performance of key global stock indices. Inter-Pacific said these concerns could also weigh on market sentiments and may leave the FBM KLCI on a drifting mode for longer. Inter-Pacific said the lack of following is likely to keep most of the lower liners and broader market shares muted for longer. “Although many of these stocks have found some measure of support following their incessant falls, fresh buying interest is likely to stay thin as most market players are still adopting a defensive stance for the time being,” it said.

Source: The Edge Markets December 13, 2021 13:17 UTC