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, according to analysts and sources. Mohd Sedek Jantan, a director of investment strategy and country economist at IPPFA Sdn Bhd, suggests that resilient domestic fundamentals will support the local bourse, while improvements in regional growth equities could lead to sectoral and country rotation away from the FBM KLCI.
Key catalysts include oil prices, developments in the Iran-US conflict, and China's July activity data. Analysts caution that while the outlook remains cautiously bullish, they would not chase the index at current levels, preferring markets and sectors with stronger earnings growth potential.
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