By Abdul Hamid A Rahman
KUALA LUMPUR, March 29 (Bernama) -- The FTSE Bursa Malaysia KLCI (FBM KLCI) is expected to trade sideways next week in a shortened trading week, hovering between 1,505 and 1,515.
UOB Kay Hian Wealth Advisors head of investment research Mohd Sedek Jantan said that next week, attention will turn to the US announcement of 25 per cent tariffs on all foreign-made cars, effective April 2.
“Adding complexity, President Donald Trump’s TikTok ban moratorium expires on April 5, potentially serving as a bargaining tool in tariff negotiations. His willingness to ease tariffs on Chinese imports in exchange for a favourable TikTok resolution underscores the intricate interplay between trade policy and geopolitical strategy,” he told Bernama.
He said that if the tariffs go with expectations, investor confidence may remain steady, supported by Malaysia’s moderate trade surplus and limited tariff exposure.
“We do not expect major movement next week. Rather, the FBM KLCI should be buoyed by a shortened three-day trading week that may shield it from global volatility,” he added.
For the trading week just ended, the FBM KLCI first fell on caution over US tariffs, then rebounded on bargain hunting and positive cues from Wall Street. It rose for three consecutive days, supported by buying interest and investor confidence, before slipping again on profit-taking and concerns over a regional earthquake.
On a Friday-to-Friday basis, the key index added 8.20 points to 1,513.65 compared with 1,505.45 a week earlier.
The FBM Emas Index added 42.25 points to 11,348.04, the FBMT 100 Index improved 41.74 points to 11,103.12, and the FBM Emas Shariah Index expanded by 97.24 points to 11,124.41,
Meanwhile, the FBM 70 Index eased 11.98 points to 16,276.09, and the FBM ACE Index slipped 15.72 points to 4,808.92.
By sector, the Industrial Products and Services Index dipped 0.16 of-a-point to 153.27, the Financial Services Index declined 55.62 points to 18,384.21, and the Plantation Index eased 12.20 points to 7,437.73,
The Energy Index advanced 6.18 points to 757.98.
Turnover was higher at 14.0 billion units valued at RM11.43 billion against 12.54 billion units valued at RM12.15 billion in the preceding week.
The Main Market volume added to 6.25 billion units worth at RM9.90 billion from 6.12 billion units worth RM10.95 billion previously.
Turnover of warrants rose to 6.05 billion units valued at RM995.45 million against 4.97 billion units valued at RM671.69 million in the prior week.
The ACE Market volume improved to 1.70 billion units worth RM529.23 million from 1.45 billion units worth RM524.70 million previously.
Bursa Malaysia and its subsidiaries will be closed on Monday and Tuesday (March 31 and April 1) should Hari Raya Aidilfitri fall on Monday.
-- BERNAMA
