Bursa Malaysia seen trading in narrow range next week but with upside bias
KUALA LUMPUR: Bursa Malaysia is expected to trade with an upside bias next week but within the narrow range of 1,740-1,750 points.
Bursa Malaysia is anticipated to trade within a narrow range of 1,740-1,750 points next week, with an inclination towards the upside. This optimistic outlook is attributed to resilient domestic fundamentals, according to Mohd Sedek Jantan, director of investment strategy at IPPFA Sdn Bhd. However, Jantan suspects that the improving regional growth equities could prompt a shift away from the FBM KLCI, owing to its defensive nature and limited exposure to high-growth sectors.
Key factors that could influence the market include oil prices, developments in the Iran-US conflict, and China's July activity data. Despite remaining cautiously bullish, the analysts do not recommend chasing the index at its current levels, as the next wave of the regional rally is expected to favor markets and sectors with stronger earnings growth potential.
Written by urgent.news from New Straits Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
