Kuala lumpur: Bursa Malaysia is anticipated to experience an uptick in bargain-hunting activity in the coming week following its recent consolidation, as investors evaluate market sentiment in light of impending global macroeconomic indicators.
According to BERNAMA News Agency, IPPFA Sdn Bhd director of investment strategy and country economist Mohd Sedek Jantan highlighted that the FTSE Bursa Malaysia KLCI (FBM KLCI) has reached a valuation range that is beginning to draw selective bargain-hunting interest.
He mentioned that investors will also be focusing on several key data releases that may influence the United States Federal Reserve's policy outlook, including figures on private hiring, services activity data, and the Personal Consumption Expenditure (PCE) index. Domestically, Malaysia's S and P Global Manufacturing Purchasing Managers' Index (PMI), scheduled for release on Monday, will provide critical insights into factory momentum, export conditions, and overall manufacturing sentiment as December approaches.
Meanwhile, Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng noted that as the FBM KLCI has slipped into an oversold position, bargain-hunting flows are expected to gradually return. He anticipates the benchmark index to trend within the 1,600-1,630 range for the upcoming week.
On a weekly basis, the FBM KLCI recorded a decline of 13.10 points, closing at 1,604.47 compared to last week's 1,617.57. Other indices also saw changes; the FBM Emas Index fell 80.84 points to 11,915.97, the FBMT 100 Index decreased by 69.14 points to 11,700.97, and the FBM Emas Shariah Index dropped 141.78 points to 11,850.90. The FBM ACE Index decreased significantly by 116.97 points to 4,824.62 while the FBM 70 Index saw a slight increase of 15.05 points to 16,856.08.
Sector-wise, the Financial Services Index rose by 199.95 points to 18,575.95, while the Plantation Index fell by 164.51 points to 8,072.12. The Energy Index decreased by 8.18 points to 747.78, and the Industrial Products and Services Index edged down by 0.90 of-a-point to 164.03.
The weekly turnover saw an increase, advancing to 22.37 billion units worth RM17.23 billion, compared to 21.84 billion units worth RM14.44 billion in the previous week. The Main Market volume expanded to 8.55 billion units worth RM14.56 billion, up from 7.41 billion units worth RM11.50 billion previously. However, warrants turnover eased to 11.74 billion units valued at RM1.99 billion, a slight decrease from last week's 11.89 billion units valued at RM2.08 billion. The ACE Market volume narrowed to 2.07 billion units valued at RM675.40 million from 2.53 billion units valued at RM858.82 million a week ago.