Kuala lumpur: Bursa Malaysia is anticipated to trade with an upside bias in the coming week, buoyed by resilient corporate earnings, increasing foreign fund inflows, and alleviated worries over global trade.
According to BERNAMA News Agency, Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng projects the FTSE Bursa Malaysia KLCI (FBM KLCI) to maintain a gradual upward trend, trading within the 1,710-1,740 range. This optimism is supported by sustained institutional and foreign buying interest.
Thong noted that, with the onset of August marking the corporate earnings season, market sentiment could see improvement should companies deliver results that surpass expectations. However, he cautioned that investors will continue to keep an eye on developments related to US monetary policy, geopolitical risks, and commodity price movements, which could sway market direction.
In addition, several significant US economic indicators, including the ISM Services PMI, Job Openings and Labor Turnover Survey (JOLTS), nonfarm payrolls, and the unemployment rate, are set for release next week and are expected to impact market sentiment.
On a weekly basis, the FBM KLCI rose by 23.88 points to 1,724.90 from 1,701.02 the previous week. Other indices also saw gains, with the FBM Mid 70 Index increasing by 244.96 points to 18,135.79 and the FBM ACE Index gaining 47.81 points to 4,974.68. The FBM Emas Index jumped 162.25 points to 12,751.79, the FBMT 100 Index leapt 173.15 points to 12,585.11, and the FBM Emas Shariah Index advanced 152.04 points to 12,596.29.
Sector-wise, the Financial Services Index saw a surge of 270.53 points to 20,327.11, while the Industrial Products and Services Index added 0.88 of a point to 188.74. In contrast, the Plantation Index fell by 12.41 points to 9,288.57, and the Energy Index decreased by 8.11 points to 765.72.
The weekly turnover fell to 14.36 billion units valued at RM13.12 billion from 16.43 billion units worth RM12.09 billion the week before. The Main Market volume decreased to 7.06 billion units valued at RM11.63 billion, compared to 9.01 billion units valued at RM10.72 billion previously. Warrants turnover slightly increased to 4.95 billion units worth RM650.82 million, against 4.94 billion units worth RM621.21 million last week. The ACE Market volume narrowed to 2.30 billion units valued at RM832.72 million, compared with 2.44 billion units valued at RM741.42 million in the prior week.