Bursa Malaysia to trade sideways next week
On Friday, the FBM KLCI jumped 17.90 points, or 1.26 percent, to end at the day’s high of 1,438.28.STR/HAZREEN MOHAMAD
KUALA LUMPUR: Bursa Malaysia is expected to trade sideways next week, with the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) moving between 1,430 and 1,460 amid the uncertain regional performance, an analyst said.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said technically, the FBM KLCI should see immediate support at 1,470 and resistance at 1,400.
According to him, investors are awaiting the release of the widely-watched official US jobs report.
Meanwhile, he said, the relaxation of China's zero COVID-19 policy would benefit many countries in the region.
"We are optimistic as we expect investor sentiment to turn positive due to the above-mentioned reason amid the improving local economy, while valuations of Malaysian equities remain cheap at the present level," he told Bernama.
Meanwhile, Malacca Securities Sdn Bhd senior analyst Kenneth Leong said volatility might remain a feature next week as investors kept a close watch on the US inflation data report to be out next Thursday.
Back home, Malaysia's Gross Domestic Product data for the third quarter of 2022, scheduled for release next Friday, would also keep investors on their toes, he added.
On Friday, the FBM KLCI jumped 17.90 points, or 1.26 percent, to end at the day's high of 1,438.28.
Compared to a week earlier, however, the key index fell 9.03 points from 1,447.31 previously.
On the index board, the FBM Emas Index slipped 57.91 points to 10,217.49, the FBM 70 dropped 94.44 points to 12,142.13, and the FBMT 100 Index shed 65.93 points to 9,948.92.
The FBM Emas Shariah Index rose 4.58 points to 10,327.09 and the FBM ACE added 37.88 points to 4,919.18.
Sector-wise, the Financial Services Index dipped 293.35 points to 16,092.69, the Industrial Products and Services Index trimmed 1.67 points to 173.78, and the Plantation Index edged down 22.03 points to 6,821.02. The Energy Index, however, gained 27.71 points to 725.28.
During the trading week, weekly turnover increased to 13.37 billion units worth RM8.89 billion from 9.78 billion units worth RM8.08 billion in the previous week.
The Main Market volume was higher at 9.03 billion shares valued at RM7.61 billion against last week's 5.87 billion shares valued at RM5.77 billion.
Warrant volume grew to 1.62 billion units worth RM325.14 million from 1.36 billion units worth RM231.45 million previously.
The ACE Market volume rose to 2.70 billion shares valued at RM955.85 million from 2.55 billion shares valued at RM1.08 billion.– BERNAMA
https://www.nst.com.my/business/2022/11/847539/bursa-malaysia-trade-sideways-next-week
Singapore Investment
-
-
-
-
-
-
-
-
Retirement Journey Update for April 20247 hours ago
-
Cory Diary : MLT Result Review7 hours ago
-
-
-
-
-
-
-
-
-
-
No new investment for retirees23 hours ago
-
-
What Is a Term Loan?23 hours ago
-
-
-
-
-
The Story Behind Maybank1 day ago
-
-
-
-
-
-
-
-
-
Platinum for Commodities?2 days ago
-
-
Quick Update - scary correction2 days ago
-
-
Portfolio Update Apr 20242 days ago
-
-
Portfolio Summary for April 20242 days ago
-
Portfolio (April 30, 2024)2 days ago
-
Summary of April 20242 days ago
-
-
Month of April 20243 days ago
-
-
A Blast From the Past3 days ago
-
-
-
-
-
-
-
Weekly Market Outlook5 days ago
-
-
OH! Kampong Gelam Art Walk5 days ago
-
-
That Restless Night…6 days ago
-
-
-
-
-
-
-
-
-
-
-
-
Keyboarding Warriors1 week ago
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Banks and Miles Report – Mar 20243 weeks ago
-
-
-
2024 (Portfolio Update)4 weeks ago
-
-
-
-
1Q 2024 Investment Strategy Update4 weeks ago
-
-
-
-
Lentor Hills Residences5 weeks ago
-
Burnt out!5 weeks ago
-
-
-
Feb 2024 Expenditure5 weeks ago
-
-
Starting Our Second Property Cycle1 month ago
-
-
-
-
-
-
-
-
The Market Is A Scam!2 months ago
-
-
-
-
-
-
-
Options Trading Journal Jan 20242 months ago
-
-
-
-
-
-
-
End of 2023 Review4 months ago
-
-
Year 2023 DIYQuant Portfolio Performance Report4 months ago
-
Monthly Summary of November 20235 months ago
-
3 Simple Poker Strategies for Beginners5 months ago
-
Migration of website5 months ago
-
-
Abandon REITS?5 months ago
-
-
-
-
-
-
-
-
-
August 2023 Portfolio Updates7 months ago
-
-
-
-
Hello SP Group, I'm Back!10 months ago
-
-
-
-
A New Light11 months ago
-
-
-
-
-
-
-
Demoralized1 year ago
-
2022 Thoughts, Hello 2023!1 year ago
-
Series of Defaults for Maple Finance1 year ago
-
Takeaways from “Sea Change”1 year ago
-
-
Greed is Coming Back1 year ago
-
-
-
-
-
-
-
-
-
-
-
What is Overemployment1 year ago
-
-
-
-
-
-
-
-
-
-
-