Bursa Malaysia Seen To Consolidate Next Week As Bargain Hunting Emerges
By Zufazlin Baharuddin
KUALA LUMPUR, Nov 14 (Bernama) -- Bargain hunting is expected to emerge gradually on Bursa Malaysia next week as valuations become more attractive following a recent decline, according to Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng.
The FTSE Bursa Malaysia KLCI (FBM KLCI) eased to below 1,600 level in the last week and declined for five consecutive sessions, bringing it closer to oversold territory.
However, Thong anticipated the FBM KLCI to consolidate within the 1,580–1,600 range next week, with selective accumulation potentially supporting a technical rebound.
“While external uncertainties could continue to keep trading volatile, we expect bargain hunting to gradually emerge as valuations become more attractive,” he told Bernama.
On key events next week, he said investors will monitor Malaysia's third quarter 2026 gross domestic product (GDP), October inflation and trade data for further indications of economic resilience.
He added that China's industrial production and retail sales figures as well as the US Federal Reserve's October meeting minutes will also influence regional sentiment.
On a Friday-to-Friday basis, the FBM KLCI decreased 33.99 points to 1,582.59 from 1,616.58 a week earlier.
On the index board, the FBM Emas Index slid 228.58 points to 11,736.89, the FBM Top 100 Index decreased 226.80 points to 11,571.65, and the FBM Emas Shariah Index trimmed 143.09 points to 11,679.68.
The FBM ACE Index slipped 177.10 points to 5,063.14 and the FBM Mid 70 Index tumbled 237.55 points to 16,783.33.
By sector, the Energy Index dropped 11.79 points to 783.07, the Plantation Index gained 69.71 points to 8,796.07, the Industrial Products and Services Index erased 1.26 points to 170.09, and the Financial Services Index weakened 444.86 points to 18,512.20.
Weekly turnover narrowed to 11.59 billion units worth RM7.70 billion from 15.49 billion units worth RM14.43 billion in the previous week.
The Main Market volume tumbled to 4.33 billion units valued at RM8.90 billion versus 8.30 billion units valued at RM13.08 billion previously.
Warrants turnover shrank to 3.27 billion units worth RM394.43 million against 5.23 billion units worth RM600.74 million a week ago.
However, the ACE Market volume increased to 2.60 billion units valued at RM734.92 million from 1.95 billion units valued at RM749.55 million in the preceding week.
-- BERNAMA