Bank Islam chief economist Mohd Afzanizam Abdul Rashid said the FTSE Bursa Malaysia KLCI is expected to linger around 1,450 next week and would continue to remain lacklustre as uncertainties over global economic prospects have heightened.
In that sense, Afzanizam noted that institutional investors are most likely to increase their cash holdings given the volatile market condition.On a weekly basis, the FBM KLCI slipped 37.21 points to end the week at 1,456.74 from 1,493.95 in the previous week. The Financial Services Index shed 114.29 points to 16,305.84, the Healthcare Index slid 141.43 points to 1,669.81, and the Technology Index inched down 4.76 points to 63.00.
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