Kuala lumpur: Bursa Malaysia's key index is anticipated to trade sideways within the 1,700-1,730 range in the upcoming week, according to Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng. He predicts the FTSE Bursa Malaysia KLCI (FBM KLCI) will move sideways with a slight upside bias, driven by continued bargain hunting and improving sentiment.
According to BERNAMA News Agency, Thong mentioned that while downside risks are currently contained, sustained gains will rely on clearer external direction, particularly developments in geopolitical tensions and global market cues. Meanwhile, IPPFA Sdn Bhd director of investment strategy and country economist Mohd Sedek Jantan highlighted the focus shifting to the upcoming United States Federal Open Market Committee (FOMC) meeting on April 28-29, where the interest rate policy is expected to remain unchanged at 3.50 to 3.75 percent.
Mohd Sedek stated that this aligns with guidance reinforcing a higher-for-longer stance amid persistent inflation. He noted that the US earnings season has offered some support, with early releases indicating that the S and P 500 remains on track for another quarter of earnings growth. However, he cautioned that while this supports near-term risk sentiment, it may not fully offset risks from geopolitical tensions and energy price volatility.
The shortened trading week due to the Labour Day holiday is likely to reduce market liquidity. Mohd Sedek maintained the view that market resilience remains fragile, with the FBM KLCI likely to remain in a consolidation phase amid a complex external environment.
For the previous week, Bursa Malaysia traded mostly higher. On a Friday-to-Friday basis, the FBM KLCI rose 25.13 points to 1,720.34 from 1,695.21 a week earlier. On the index board, the FBM Top 100 Index gained 198.09 points to 12,549.30, the FBM Emas Index advanced 197.55 points to 12,715.72, the FBM Emas Shariah Index rose 138.55 points to 12,586.61, the FBM ACE Index improved 52.67 points to 4,652.32, while the FBM Mid 70 Index climbed 348.70 points to 18,072.43.
By sector, the Financial Services Index surged 408.14 points to 20,222.81, the Industrial Products and Services Index added 4.32 points to 192.36, and the Energy Index increased 14.54 points to 830.31, while the Plantation Index declined 83.40 points to 8,845.26.
Weekly turnover edged up to 16.39 billion units valued at RM15.16 billion from 16.35 billion units valued at RM14.87 billion a week earlier. The Main Market volume expanded to 9.33 billion units valued at RM13.66 billion from 8.97 billion units valued at RM13.41 billion previously.
Warrants turnover increased to 5.00 billion units valued at RM681.05 million compared with 4.58 billion units valued at RM585.74 million last week. The ACE Market volume slid to 2.06 billion units valued at RM812.78 million from 2.80 billion units valued at RM873.03 million in the previous week.