Bursa Malaysia to trade at 1,560-1,580 range next week

On a Friday-to-Friday basis, the benchmark index eased 27.46 points to end the week at 1,548.51 from 1,575.97 previously. ― Picture by Hari Anggara
On a Friday-to-Friday basis, the benchmark index eased 27.46 points to end the week at 1,548.51 from 1,575.97 previously. ― Picture by Hari Anggara

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KUALA LUMPUR, Sept 18 ― The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) is expected to move between 1,560 and 1,580 points next week with the return of foreign participation in the local stock market on the back of economic activities resumption.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the current’s benchmark index is well supported around the 1,540-1,550 region by continuous foreign inflow which was a positive news for local equities.

“We reckon this is a good opportunity for bottom fishing, especially the bluechip stocks valuations are currently hovering at attractive levels,” he told Bernama.

On a Friday-to-Friday basis, the benchmark index eased 27.46 points to end the week at 1,548.51 from 1,575.97 previously.

On the index board, the FBM Emas Index was 156.99 points weaker at 11,365.82, the FBMT100 Index slipped 152.46 points to 11,059.86 and the FBM Emas Shariah Index lost 200.06 points to 12,414.14.

The FBM 70 declined 36.82 points to 15,007.29 while the FBM ACE reduced 53.88 points to 7,201.22.

Sector-wise, the Plantation Index shed 177.80 points to 6,426.42, the Financial Services Index tumbled 100.37 points to 15,289.80 but the Industrial Products and Services Index went down 1.29 points to 199.61.

The Healthcare Index dropped 80.88 points to 2,616.41 and the Energy Index slid 30.86 points to 729.77 but the Technology Index edged up 1.82 points to 93.58.

During the trading week, weekly turnover decreased to 18.20 billion units valued at RM12.65 billion from 23.66 billion units valued at RM14.69 billion in the previous week.

The Main Market volume weakened to 11.79 billion shares worth RM11.26 billion from last week’s 15.31 billion shares worth RM12.89 billion.

Warrants volume was lower at 1.53 billion units valued at RM243.55 million against 1.8 billion units valued at RM272.84 million previously.

The ACE Market volume fell to 4.76 billion shares worth RM1.14 billion from 6.48 billion shares worth RM1.52 billion last week. ― Bernama

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