kuala lumpur: Bursa Malaysia is expected to continue trading cautiously next week as investors worry about the weak economic outlook, traders said.
Rakuten Trade Sdn Bhd’s vice-president of equity research Tong Pak Leng said the increased volatility in the regional market could cause investor sentiment in the local market to become cautious in the short term.
“Given the change in sentiment, we expect the benchmark index to remain within the 1,445-1,465 range, with support at 1,440 and immediate resistance at 1,465,” he told Bernama.
Another dealer said regional sentiment remained affected, with US interest rates likely to remain high for an extended period after the US released strong labor market data.
He said investors were also concerned about news that China would expand its iPhone ban, which has so far sent Apple shares down for two days and wiped out its market capitalization of US$200 billion (RM935 billion). ) The area nearby is blown away.
In the week just ended, the FBM KLCI fell in line with the weak performance of local stock exchanges amid negative market sentiment.
Friday-Friday FBM KLCI closed the week at 1,454.95, down 8.48 points from the previous week’s 1,463.43.
On the index board, the FBM Emas index fell 89.72 points to 10,726.92, the FBMT 100 index fell 81.30 points to 10,401.98, the FBM Emas Shariah index fell 110.33 points to 10,887.55, the FBM ACE index fell 39.26 points to 5,188.83, FBM 70 has fallen. The index fell 198.25 points to 14,135.72.
By sector, the Industrial Products and Services Index decreased by 0.20 points to 172.74, the Energy Index decreased by 0.67 points to 855.47, the Financial Services Index decreased by 44.93 points to 16,426.68, and the Plantation Index decreased by 73.55 points to 6,864.15. . .
Weekly sales were almost unchanged at 18.03 billion units (equivalent to RM10.77 billion) compared to the previous week’s 18.03 billion units (equivalent to RM13.53 billion).
Main market trading volume fell to 13.14 billion shares worth RM9.61 billion, compared to 19.95 billion shares worth RM12.47 billion the previous week.
Warrant sales totaled 1.79 billion units (worth RM254.14 million), up from 1.48 billion units (worth RM222.87 million) in the previous week.
ACE Market’s trading volume increased to 3.06 billion shares (worth RM898.15 million), compared to 2.57 billion shares (worth RM821.64 million) previously. – Bernama
