The overall market breadth was neutral with 114 gainers and 115 decliners.While the selling pressure has picked up owing to recession fears in the coming year, there are expectations the local bourse will be supported by year-end window dressing as well as elevated commodities prices.
"As commodities prices remained elevated, buying momentum should remain strong in the energy and plantation sector," said Malacca Securities Research in a note. According to TA Securities Research, investors should be closely monitoring developments on China's Covid policy, in hopes of further easing of economic restrictions.
"Expect key index chart supports at 1,460 and 1,450 to adequately cushion initial downside, with better supports from 1,420 and 1,400.
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