Bursa outlook: Malaysia’s GDP data to drive FBM KLCI, market eyes key economic figures

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Bursa Malaysia News

Week Ahead

KUALA LUMPUR, Nov 9 — The FTSE Bursa Malaysia KLCI (FBM KLCI) is anticipated to continue its upward trajectory next week, extending the positive momentum seen this week as it...

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“Recent influential developments included the recent Republican election victory in the United States, rate cuts from both the US Federal Reserve and the Bank of England, and China’s ongoing commitment to supportive monetary policy to drive economic recovery. “Although these measures could present certain risks to global markets, they are largely within business expectations, having been anticipated well in advance of the election. Markets tend to react negatively to unexpected developments; hence, as long as these policies remain within forecast parameters, any adverse impact should be minimal,” he added.

Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng reckons next week’s stock market outlook hinges on signals from the US political landscape. The FBM Emas Index gained 137.52 points to 12,265.86, the FBM 70 Index advanced 186.46 points to 17,865.39 and the FBMT 100 Index rose 126.67 points to 11,966.46.

The Energy Index slipped 4.72 points to 834.08 and the Industrial Products and Services Index edged down 0.96 of-a-point to 172.61.

 

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