BURSA MALAYSIA LIKELY TO CONTINUE RANGE-BOUND TRADING NEXT WEEK

By Siti Radziah Hamzah

KUALA LUMPUR, March 22 (Bernama) -- Bursa Malaysia is expected to continue range-bound trading next week with a slight upward bias in the lead-up to Hari Raya holiday, said an analyst. 

UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said the FTSE Bursa Malaysia KLCI (FBM KLCI) is trading between 1,510 and 1,515, while key levels to watch remained the resistance level at 1,550 and support at 1,500.

“Although Malaysian equities have corrected sharply due to multiple unrelated factors, we expect external headwinds -- including US import tariff risks, the Russia-Ukraine conflict, and concerns over China’s economic momentum -- to subside gradually, helping to stabilise foreign equity outflows,” he told Bernama. 

For the trading week just ended, the FTSE Bursa Malaysia KLCI (FBM KLCI) was in cautious trading following significant investor caution and fund reallocations across global markets, influenced by trade tensions, central bank policies, and geopolitical events.

On a Friday-to-Friday basis, the key index fell 6.70 points to 1,505.45 compared with 1,512.15 a week earlier.

Meanwhile, the FBM Emas Index added 5.65 points to 11,305.79,  the FBMT 100 Index tumbled 8.45 points to 11,061.38, the FBM Emas Shariah Index expanded by 37.59 points to 11,027.17, the FBM 70 Index surged 149.60 points to 16,288.07, and the FBM ACE Index increased 146.96 points to 4,824.64. 

By sector, the Industrial Products and Services Index edged down 0.30 of-a-point to 153.43, the Financial Services Index declined 82.99 points to 18,439.83, and the Plantation Index rose 80.18 points to 7,449.93, and the Energy Index rose 33.07 points to 751.8.

Turnover was slightly higher at 16.55 billion units valued at RM12.15 billion against 16.40 billion units valued at RM14.47 billion in the preceding week.  

The Main Market volume fell to 6.12 billion units from RM10.95 billion from 8.96 billion units worth RM13.18 billion previously.  

Turnover of warrants eased to 4.97 billion units valued at RM671.69 million against 5.45 billion units valued at RM622.41 million in the prior week.  

The ACE Market volume slid to 1.45 billion units worth RM524.70 million from 1.97 billion units worth RM667.75 million previously.

 Bursa Malaysia and its subsidiaries were closed on Tuesday in conjunction with the Nuzul Al-Quran public holiday.

-- BERNAMA