Bursa Malaysia to hit 1,670 level as softening US job market keeps rate cut expectations elevated

  • 📰 staronline
  • ⏱ Reading Time:
  • 31 sec. here
  • 8 min. at publisher
  • 📊 Quality Score:
  • News: 37%
  • Publisher: 75%

Bursa Malaysia Nouvelles

FBM KLCI,Weekly,UOB Kay Hian

A trip to the ninth largest country in the world.

KUALA LUMPUR : Bursa Malaysia is poised to retest the 1,670 level from Monday onwards on improved sentiment as the latest US jobs data point to a softening labour market, keeping hopes for an interest rate cut expected by markets elevated.

In this context, he expects a shift in investor focus towards fundamentally strong companies with high dividend yields and defensive sectors. "As such, we anticipate the FBM KLCI to trend within the range of 1,650-1,670 for next week with immediate support at 1,650 followed by 1,630 and resistance at 1,670 followed by 1,700,” he said.

Sector-wise, the Financial Services Index slid 115.06 points to 19,602.47, the Plantation Index shed 69.79 points to 7,243.40 while the Industrial Products and Services Index retreated by 6.10 points to 175.30. The Energy Index slipped 51.51 points to 875.19.

 

Merci pour votre commentaire. Votre commentaire sera publié après examen.
Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

 /  🏆 4. in BE

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

CEO: Bursa Malaysia seeks to reduce large domestic investor dominance to lure foreign investmentKUALA LUMPUR, Sept 4 — Malaysia’s stock exchange is looking to loosen the grip of large domestic investors on the market to encourage more trading and attract foreign investors...
La source: malaymail - 🏆 1. / 86 Lire la suite »

Bursa Malaysia closes red as global slowdown fears mount, telco stocks buck the trendKUALA LUMPUR, Sept 4 — Bursa Malaysia ended lower today, tracking an equity rout worldwide after weak US data fuelled fears of a slowdown in global economic growth. At 5pm, the...
La source: malaymail - 🏆 1. / 86 Lire la suite »