Blue chips likely to move sideways

WHILE blue chip heavyweights suffered losses for five straight sessions last week, with falls led by oil and gas (O&G) and plantation stocks due to weak crude oil prices, rotational buying in small-cap stocks came back strongly to boost trading momentum on the broader market. The sharp losses in O&G-related stocks were triggered by slumping crude oil prices that fell below US$80 (RM268) a barrel due to US dollar strength and excess global supply.

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