BARGAIN-HUNTING LIKELY TO EMERGE, CAUTIOUS SENTIMENT TO DOMINATE BURSA MALAYSIA NEXT WEEK

By Siti Radziah Hamzah

KUALA LUMPUR, April 5 (Bernama) -- Bargain-hunting activities are likely to emerge next week in Bursa Malaysia, with selling pressure expectation to ease as investors absorb the US tariff impact. 

Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said buying opportunities would emerge, particularly for fundamentally strong blue chips with attractive dividend yields to hedge against prevailing market weakness.

Furthermore, he noted that the US tariff on Malaysia was relatively low compared with other regional countries.

"As such, we anticipate the FBM KLCI to trend within the 1,500-1,530 range next week," he told Bernama. 

Meanwhile, SPI Asset Management managing partner Stephen Innes said the 1,500-1,490 range could be tested, and this could weigh heavily on sentiment.

"If 1,500 gives way convincingly, we could see momentum accelerate to the downside. For now, I’m framing next week’s range somewhere between 1,490 and 1,515, with risk skewed to the downside unless we get a clear catalyst like tariff rollbacks or coordinated central bank easing. 

"Until then, traders should stay nimble — this is still a market running on nerves, not conviction," he told Bernama. 

Bursa Malaysia was traded on the downside bias for the holiday-shortened week due to the Hari Raya Aidilfitri holidays. The sell-off followed US President Donald Trump’s reciprocal tariff, including Malaysia at 24 per cent. 

On a Friday-to-Friday basis, the key index declined 9.51 points to 1,504.14 from 1,513.65 a week earlier.

The FBM Emas Index dipped 152.39 points to 11,195.65, the FBMT 100 Index declined 98.50 points to 10,973.88, and the FBM Emas Shariah Index depreciated by 103.99 points to 10,923.18. 

The FBM 70 Index lost 436.90 points to 15,851.17, and the FBM ACE Index slipped 192.04 points to 4,632.60. 

By sector, the Industrial Products and Services Index edged down 6.07 points to 147.20, the Financial Services Index was reduced by 77.70 points to 18,306.51, the Plantation Index was weaker by 105.54 points to 7,332.19, and the Energy Index was 38.71 points weaker at 719.27. 

Turnover was lower at 6.70 billion units valued at RM5.74 billion against 14.0 billion units valued at RM11.43 billion in the preceding week.  

The Main Market volume slid to 3.98 billion units worth RM6.23 billion from 6.25 billion units worth RM9.90 billion previously.  

Turnover of warrants eased to 1.95 billion units worth RM237.70 million from 6.05 billion units valued at RM995.45 million in the prior week.

The ACE Market volume improved to 769.81 million units worth RM271.19 million versus 1.70 billion units worth RM529.23 million previously.

-- BERNAMA