Bursa Malaysia seen trading range‑bound between 1,700 and 1,730 next week as West Asia tensions persist

KUALA LUMPUR, May 2 — Bursa Malaysia’s benchmark index is expected to trade in a range-bound mode with a cautious bias within the 1,700-1,730 range next week.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said this is due to the absence of strong positive catalysts.

He said volatility is likely to remain elevated as markets track developments in West Asia and oil price movements.

“We maintain a cautious outlook on the domestic front, despite selective bargain hunting, as persistent geopolitical tensions and elevated crude oil prices raise concerns over inflation and cost pressures.

“While energy-related stocks may find some support, broader market participation is expected to stay subdued as investors adopt a defensive stance,” Thong told Bernama.

For the shortened week just ended, Bursa Malaysia traded mixed, with sentiment influenced by the West Asia conflict, US megacap earnings, the United Arab Emirates’ decision to exit the Organisation of the Petroleum Exporting Countries and its allies, and elevated oil prices.

Bursa Malaysia and its subsidiaries were closed yesterday (May 1), in conjunction with the Labour Day public holiday.

On a Thursday-to-Friday basis, the FBM KLCI added 1.68 points to 1,722.02 from 1,720.34 a week earlier.

On the index board, the FBM Top 100 Index gained 10.76 points to 12,560.06, the FBM Emas Index increased 8.02 points to 12,723.74, the FBM Emas Shariah Index grew 131.75 points to 12,718.36, the FBM ACE Index fell 34.21 points to 4,618.11, while the FBM Mid 70 Index climbed 13.54 points to 18,085.97.

By sector, the Financial Services Index sank 337.78 points to 19,885.03, the Industrial Products and Services Index added 3.95 points to 196.31, the Energy Index increased 10.36 points to 840.67, and the Plantation Index improved 94.05 points to 8,939.31.

Weekly turnover slipped to 14.15 billion units valued at RM13.03 billion from 16.39 billion units valued at RM15.16 billion a week earlier.

The Main Market volume decreased to 8.86 billion units valued at RM111.94 billion from 9.33 billion units valued at RM13.66 billion previously.

Warrants turnover reduced to 4.02 billion units valued at RM539.16 million compared with 5.00 billion units valued at RM681.05 million last week.

The ACE Market volume slid to 1.47 billion units valued at RM553.62 million from 2.06 billion units valued at RM812.78 million in the previous week. — Bernama