Bursa Malaysia to see cautious buying and selling this week

PETALING JAYA: Bursa Malaysia is anticipated to witness cautious buying and selling this week amid a scarcity of main catalysts to affect buyers’ threat urge for food.

Rakuten Commerce Sdn Bhd fairness analysis vice-president Thong Pak Leng reckoned that the native market will see some headwinds subsequent week amid the heightening regional volatility.

“Nonetheless, we imagine accumulation of shares will persist on dips,” he informed Bernama.

In the meantime, Financial institution Islam Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid opined that the index is having difficulties making an attempt to interrupt the 1,600-point psychological degree.

“I feel the same dynamics would proceed subsequent week as buyers would proceed to be extra anxious as america Federal Reserve’s Might 3 and 4 Federal Open Market Committee assembly attracts nearer.

“Maybe fund managers would like to carry additional cash at this juncture given the lingering uncertainties,” he added.

On a Friday-to-Friday foundation, the FBM KLCI slipped 18.28 factors to finish the week at 1,589.01 from 1,607.29 within the earlier week.


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