KUALA LUMPUR, Jan 26 ― The positive global economic outlook is expected to continue driving Bursa Malaysia, as well as its regional peers into positive momentum, while influencing the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) to test the 1,720-point level.
Phillip Capital Management Malaysia senior vice-president (investment) Datuk Dr Nazri Khan Adam Khan said consumer-related counters were expected to be leading the demand next week, due to the upcoming festive season.
He said the investor confidence level was improving, with the upcoming US-China trade talks, as well as the Brexit negotiations, showing positive signs
“It seems Theresa May has got the support of the Northern Ireland's DUP (Democratic Unionist Party), which would increase the chances of the Brexit deal of being approved,” he told Bernama.
Back home, Nazri said the expectation of the commodity and the ringgit to extend their positive momentum next week would also lend some support towards the local index.
For the week just ended, the local bourse recorded a choppy trading pattern, mainly influenced by external factors such as the upcoming trade talks between China and the US, as well as fresh news on the UK’s plan to exit the European Union.
On a Friday-to-Friday basis, the benchmark FBM KLCI settled 8.81 points higher at 1,701.03.
The FBM Emas Index was 81.60 points firmer at 11,785.96, the FBMT 100 Index increased 84.87 points to 11,668.86, the FBM Emas Shariah Index advanced 98 points to 11,725.73, the FBM 70 surged 202.73 points to 13,980.29, but the FBM Ace Index slipped 5.09 points to 4,464.45.
Sector-wise, the Finance Index soared 108.28 points to 17,636.53, the Plantation Index rose 101.13 points to 7,302.17, and the Industrial Products and Services Index earned 0.53 of-a-point to 164.19.
On a Friday-to-Friday, the weekly turnover reduced slightly to 10.23 billion units worth RM8.22 billion against 12.37 billion units valued at RM9.32 billion.
Main Market volume decreased to 7.60 billion units worth RM7.75 billion versus 9.19 billion units valued at RM8.75 billion.
Warrants turnover narrowed to 1.37 billion units worth RM251.08 million from 1.83 billion units valued at RM359.94 million.
The ACE Market volume was almost flat at 1.34 billion shares worth RM217.37 million against 1.34 billion shares valued at RM211.61 million. ― Bernama
