Kuala lumpur: Bursa Malaysia is poised to consolidate its recent gains and trade within a narrow range next week as investors unwind tactical positions after a strong performance this week.
According to BERNAMA News Agency, IPPFA Sdn Bhd director of investment strategy and country economist Mohd Sedek Jantan noted that the benchmark index has risen by 61.43 points, or 3.83 percent month-to-date, including a 1.72 percent gain this week. This makes December a stronger month for local equities. With stable domestic funding conditions, turnover may ease due to shorter trading sessions ahead of the Christmas break and year-end holidays, which could keep volumes below the three-billion-share average.
Several domestic releases are scheduled, including Malaysia's November Consumer Price Index (CPI) on Monday. The market may demonstrate a softer bias as investors reassess their positions in the final weeks of the year.
To recap, Bursa Malaysia ended the week on a high note, reaching an almost 15-month high and surpassing the 1,660.09 level set on September 27, 2024. This was supported by improving domestic sentiment ahead of year-end portfolio rebalancing. Earlier, on December 15, the benchmark index reached a 14-month high of 1,643.72, surpassing the 1,642.54 level recorded on October 22, 2024. On a Friday-to-Friday basis, the FBM KLCI rose 28.09 points to 1,665.90 from last week's 1,637.81.
On the index board, the FBM Emas Index increased by 159.05 points to 12,233.08, the FBMT 100 Index went up by 167.45 points to 12,030.75, the FBM Emas Shariah Index climbed 116.50 points to 12,025.70, the FBM 70 Index added 76.52 points to 16,813.19, and the FBM ACE Index rose 56.69 points to 4,814.88.
By sector, the Financial Services Index jumped 340.05 points to 19,561.75, the Plantation Index surged 139.89 points to 8,291.16, the Energy Index added 1.19 points to 768.98, and the Industrial Products and Services Index edged up 1.22 points to 170.39.
Weekly turnover declined to 12.77 billion units worth RM12.07 billion from 15.95 billion units worth RM11.27 billion a week earlier. The Main Market volume decreased to 6.85 billion units worth RM10.95 billion versus 7.07 billion units worth RM9.76 billion previously. Warrants turnover dwindled to 4.45 billion units valued at RM566.59 million against 7.06 billion units valued at RM904.42 million a week ago. The ACE Market volume slipped to 1.47 billion units valued at RM544.20 million from 1.81 billion units valued at RM590.79 million last week.