KLCI Plunged by 2.01% With Support Hold at 1520

Malaysia slumped despite US markets gains as the proposed one-off prosperity tax and weighed market sentiment. However, the valuation of the local market remained attractive despite the Prosperity Tax compared to regional peers.

Market hit day low at 1523.5 and reached on the Major support level at 1520.
Stochastic level near to Oversold level at 30.00.

Pending for confirmation if market would rebound from the major support level or further declined to next Major Support level at 1500-1510?