KUALA LUMPUR: Bursa Malaysia is expected to trade slightly better next week with investors accumulating selected index-linked counter stocks, amid cautious sentiment which is largely to be influenced by external developments.
A dealer said the current bullish sentiment, spurred by an easing of the US-China trade war tensions and a threatened military strike by the US on Syria not imminent, would continue to fuel risk appetite next week.
“In addition, US President Donald Trump reconsidering rejoining the Trans-Pacific Partnership free-trade deal has sparked relief in the face of the China trade threat.
“Wall Street’s performance will be closely monitored with confidence seeming to pile up ahead of the US corporate earnings season,” he told Bernama.
On the local front, another dealer said an upside bias in small and mid-cap stocks is expected to continue next week.
He anticipated reports on Malaysia’s unemployment figures and inflation data to be released next week, would partly contribute to market sentiment.
On a Friday-to-Friday basis, the FBM KLCI was 31.46 points higher at 1,868.47 from 1,837.01 last week.
The key index moved on an upward momentum and ended almost at a four-year high on Thursday before retreating on Friday as profit taking emerged.
The FBM Emas Index surged 353.26 points to 13,129.52, the FBM Emas Syariah Index soared 459 points to 13,352.7 and the FBMT100 Index increased 300.72 points to 12,921.62
The FBM 70 jumped 651.67 points to 15,819.58 and the FBM Ace climbed 607.13 points to 5,646.13.
On a sectoral basis, the Finance Index chalked up 292.91 points to 18,261.84, the Plantation Index improved 137.78 points to 8,054.53 and the Industrial Index rose 22.48 points to 3,220.98.
Weekly turnover expanded to 16.59 billion units worth RM12.55 billion from 12.49 billion units valued at RM10.68 billion.
Main market volume surged to 10.17 billion units worth RM11.57 billion from 7.23 billion units valued at RM9.36 billion.
Warrants turnover increased to 3.42 billion units worth RM449.85 million from 1.3 billion units valued at RM945.69 million.
The ACE market volume widened to 2.97 billion shares worth RM529.98 million from 2.23 billion shares valued at RM363.88 million. — Bernama
Source: The Sun Daily