Kuala Lumpur: Bursa Malaysia’s key index is projected to trade between 1,500 and 1,530 next week. The market remains under pressure due to concerns over Washington’s planned unilateral tariff measures and escalating tensions following Israel’s strike on Iran.
According to BERNAMA News Agency, Mohd Sedek Jantan, head of investment research at UOB Kay Hian Wealth Advisors Sdn Bhd, indicated that markets are expected to stay vulnerable and potentially trade lower in the near term, barring any meaningful de-escalation of the conflict over the weekend, which appears unlikely.
Mohd Sedek noted that oil and gas stocks might present short-term trading opportunities, especially those with upstream exposure or companies expanding their upstream concessions. These entities could benefit from the current rally in oil prices.
Rakuten Trade Sdn Bhd’s equity research vice-president, Thong Pak Leng, advised market participants to monitor ongoing geopolitical tensions and developments related to US President Donald Trump’s stance on US-China trade tariffs. He stated that the rise in crude oil prices could provide opportunities for investors interested in oil and gas and commodity-related stocks. The benchmark index is anticipated to trend within the 1,500-1,530 range, marking its support and resistance levels.
Thong further mentioned that if tensions continue to escalate, the second support level could be around 1,485.
For the recently concluded week, Bursa Malaysia began positively, driven by developments in US-China trade negotiations, stock accumulation by local institutions, and a slowdown in foreign selling activity. From Friday to Friday, the barometer index increased by 1.32 points to 1,518.11 from 1,516.79 the previous week.
The FBM Emas Index increased by 14.84 points to 11,370.18, the FBMT 100 Index rose 20.35 points to 11,144.04, and the FBM Emas Shariah Index edged up 0.31 of a point to 11,329.53. The FBM 70 Index gained 72.14 points to 16,368.71, while the FBM ACE Index declined by 32.13 points to 4,487.19.
Sector-wise, the Industrial Products and Services Index was up by 0.55 of a point at 151.35, and the Energy Index increased by 22.31 points to 740.76. Conversely, the Plantation Index dropped by 31.93 points to 7,220.92, the Healthcare Index fell by 16.42 points to 1,777.72, and the Financial Services Index decreased by 60.06 points to 17,648.25.
The turnover surged to 13.89 billion units worth RM10.61 billion from 9.80 billion units worth RM8.18 billion in the prior week. The Main Market volume increased to 6.42 billion units valued at RM9.47 billion from 4.50 billion units valued at RM7.21 billion previously. Warrants turnover grew to 5.97 billion units worth RM687.92 million from 4.07 billion units worth RM533.43 million a week earlier. The ACE Market volume rose to 1.50 billion units valued at RM458.75 million compared to 1.22 billion units valued at RM432.22 million in the preceding week.