Bursa Malaysia is likely to trend higher next week

KUALA LUMPUR : Bursa Malaysia is probably going to drift higher one week from now on the back of better notion brought by the solid execution of Wall Street, which had an overflow impact on its Asian partners.

Affin Hwang Investment Bank Vice President/Head of Retail Research, Datuk Dr Nazri Khan Adam Khan, said Saturday other than the US achieving record highs, the European Central Bank is additionally set to sell the market with a quantative facilitating security purchasing program for 2017.

“To add to the inspiration around this time, markets will usually experience a bullish cycle, subsequently lifting the ringgit and unrefined petroleum costs. “The market will then likely test the 1,650-point level one week from now,” he told Bernama

On a week-to-week premise, the benchmark FBM KLCI rose 12.46 focuses to 1,641.42 from 1,628.96 last Friday, the FBM Emas Index increased 74.72 focuses to 11,473.84, the FBMT 100 Index was up 78.55 focuses to 11,209.58 and the FBM Emas Shariah Index was 86.93 focuses higher at 12,013.07.

The FBM Ace declined 72.14 focuses to 4,706.43 however the FBM 70 progressed 68.32 focuses to 13,144.72. On a sectoral premise, the Finance Index rose 64.16 focuses to 14,352.43, the Industrial Index was up 41.66 focuses to 3,105.2 and the Plantation Index edged up 9.03 focuses to 7,727.27.

Week after week turnover diminished to 5.59 billion units worth RM7.25 billion from 7.40 billion units worth RM9.44 billion enrolled last Friday. Fundamental market volume declined to 3.63 billion shares esteemed at RM6.92 billion from 5.10 billion shares esteemed at RM9.09 billion a week ago.

Warrant turnover slipped to 1.1 billion units esteemed at RM211.57 million from 1.24 billion units esteemed at RM210.91 million a week ago. The ACE market was down to 827.3 million shares worth RM109.01 million from 1.04 billion shares worth RM141.05 million a week ago.

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