Bursa Malaysia seen trading with an upward trend bias next week
KUALA LUMPUR: Bursa Malaysia is expected to trade with an upward bias as investors continue to assess external geopolitical developments and resilient domestic economic conditions, said an analyst.
KUALA LUMPUR: Analysts anticipate Bursa Malaysia to exhibit an upward trend in trading next week, as investors focus on geopolitical developments and the strength of domestic economic conditions. Rakuten Trade Sdn Bhd's Thong Pak Leng highlighted Malaysia's stable interest rates, robust domestic demand, and ongoing infrastructure spending as factors contributing to investor sentiment.
Despite potential volatility from geopolitical events and rising oil prices, bargain hunting is expected to occur during market downturns. According to Mohd Sedek Jantan of IPPFA Sdn Bhd, the FBM KLCI will likely remain influenced by external factors, with particular attention to the US July non-farm payrolls report for insights into the US Federal Reserve's policy direction.
A jobs report aligning with or deviating from expectations could impact global risk appetite, foreign fund inflows, and Malaysian equities. The FBM KLCI is forecasted to trade within the 1,720-1,750 range during the upcoming week, according to Thong Pak Leng.
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