On the index board, the FBM Emas Index decreased 15.44 points to 10,232.18, the FBMT 100 Index shed 10.64 points to 9,933.72, the FBM Emas Shariah Index dropped 96.03 points to 10,515.75, the FBM 70 Index fell 128.52 points to 13,456.19, and the FBM ACE Index slipped 82.89 points to 5,042.87. On a Friday-to-Friday basis, the FBM KLCI added 2.28 points to finish at 1,390.89 compared with 1,388.61 a week earlier. In the face of persistent growth headwinds that are intensifying due to tighter global monetary policy, he said the Malaysian market is expected to continue trading on a weaker bias. "So, while the FTSE Bursa Malaysia KLCI (FBM KLCI) have tested 1,400 psychological level this week, it could conceivably test the lower end of the range around 1,380 next week, especially if the market starts to think we are nudging ever closer to the developed market recession," he told Bernama. "As we approach weeks to end, the consensus is building that it will be difficult to tamper Western economies' core inflation without doing some economic damage which could weigh on commodity-exporting countries like Malaysia. However, he shared that the market could be in a weaker spell next week as the broader market turned cautious after several major central banks were hawkish in the fight against sticky core inflation. SPI Asset Management managing director Stephen Innes said sentiment improved this week as the People's Bank of China interest rate cuts and higher crude oil prices helped to stabilise the local market. KUALA LUMPUR, June 25 (Bernama): Bursa Malaysia is expected to trade in cautious mode on downside bias this week, with the benchmark index moving between 1,380 and 1,400 amid external headwinds, said an analyst.
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