BURSA MALAYSIA SET TO TREND HIGHER NEXT WEEK ON IMPROVED SENTIMENT -- ANALYST

By Durratul Ain Ahmad Fuad

KUALA LUMPUR, March 8 (Bernama) -- Bursa Malaysia is expected to trend higher next week, supported by improved sentiment and renewed interest in fundamentally strong stocks.

UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said the index, however, faces a key resistance level at 1,590, which may limit immediate upside, especially given the continued outflow of foreign funds.

“Despite the current market uncertainty, we maintain a cautiously optimistic outlook for the coming week,” he told Bernama.

Nonetheless, Mohd Sedek said bargain-hunting opportunities have emerged, particularly in resilient sectors such as financials, commodities, energy, healthcare, and technology.

“Malaysia’s semiconductor industry, in particular, stands to benefit from China’s strategic emphasis on technology in its 2025 economic roadmap,” he added.

He said while near-term volatility remains a risk due to the United States’ (US) unpredictable trade policies, the temporary tariff suspension and potential shifts in Federal Reserve policy could provide a more favourable environment for risk assets.

“With these factors in play, we anticipate a stabilisation in market conditions, supporting an uptrend in the FTSE Bursa Malaysia KLCI (FBM KLCI) and a stronger ringgit in the coming week,” he said.

For the trading week just ended, the FBM KLCI was mostly lower on trade war concerns following the US’ confirmation of its tariff imposition on Mexico, Canada, and China. 

On a Friday-to-Friday basis, the key index fell 27.43 points to 1,547.27 compared with 1,574.70 a week earlier.

The FBM Emas Index fell 215.52 points to 11,520.80, the FBMT 100 Index tumbled 201.02 points to 11,295.55, the FBM Emas Shariah Index dropped 231.84 points to 11,179.95, the FBM 70 Index lost 294.16 points to 16,342.47, and the FBM ACE Index slid 169.20 points to 4,587.79.

By sector, the Industrial Products and Services Index edged down 3.12 points to 155.23, the Energy Index trimmed 39.10 points to 715.04, the Financial Services Index decreased 260.27 points to 19,066.68, and the Plantation Index was 129.62 points lower at 7,480.08.

Turnover slipped to 15.56 billion units valued at RM13.32 billion from 15.94 billion units valued at RM16.35 billion in the preceding week.  

The Main Market volume declined to 8.40 billion units worth RM12.10 billion from 9.44 billion units worth RM15.14 billion previously.  

Warrants turnover grew to 5.14 billion units valued at RM570.74 million versus 4.46 billion units valued at RM527.65 million last week.  

The ACE Market volume slid to 2.0 billion units worth RM647.06 million from 2.02 billion units worth RM684.24 million in the previous week.

-- BERNAMA