Bursa Malaysia Expected To Trade Within 1,600-1,630 Range Next Week
By Nurunnasihah Ahmad Rashid
KUALA LUMPUR, Nov 7 (Bernama) -- Bursa Malaysia is expected to trade within the 1,600-1,630 range next week, with selective accumulation likely to provide support at lower levels, said Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng.
He said investors would monitor the United States October Consumer Price Index and Producer Price Index figures for further clues on inflation and the Federal Reserve's interest-rate outlook.
Meanwhile, China's October inflation figures on Monday and Malaysia's September industrial production data on Tuesday would provide further insights into regional economic conditions.
"While intermittent volatility cannot be ruled out, we expect the FTSE Bursa Malaysia KLCI (FBM KLCI) to remain relatively steady,” he told Bernama.
On a Friday-to-Friday basis, the FBM KLCI increased 0.98 of a point to 1,616.58 from 1,615.60 a week ago.
On the index board, the FBM Emas Index slipped 96.26 points to 11,965.47, the FBM Top 100 Index decreased 65.41 points to 11,798.45, and the FBM Emas Shariah Index sank 260.14 points to 11,822.77.
The FBM ACE Index lost 163.67 points to 5,240.24 and the FBM Mid 70 Index tumbled 399.81 points to 17,020.88.
By sector, the Energy Index dropped 57.30 points to 794.86, the Plantation Index gained 28.94 points to 8,726.36, and the Industrial Products and Services Index erased 7.02 points to 171.35. The Financial Services Index surged 409.07 points to 18,957.06.
Weekly turnover narrowed to 15.49 billion units worth RM14.43 billion from 15.53 billion units worth RM9.97 billion in the previous week.
However, the Main Market volume jumped to 8.30 billion units valued at RM13.08 billion versus 5.13 billion units valued at RM8.83 billion previously.
Warrants turnover rose to 5.23 billion units worth RM600.74 million against 3.99 billion units worth RM608.01 million a week ago.
The ACE Market volume slid to 1.95 billion units valued at RM749.55 million from 2.07 billion units valued at RM788.72 million in the previous week.
-- BERNAMA