FBM KLCI may challenge 1,300-point level

he FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) is likely to challenge the 1,300-point level next week with investors looking for new catalysts to propel the market indices, dealers said.

The benchmark index had posted the first high of this year at 1,308.36 on Jan 21.

TA Securities' senior technical analyst Stephen Soo said the market currently lacked foreign participation.

Soo said the soon-to-be-unveiled new economic model may provide a strong catalyst for the local stock market.

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