The FBM KLCI is anticipated to trend within the range of 1,671-1,700 next week as investor sentiment is expected to improve regionally and globally. — Picture by Hari AnggaraKUALA LUMPUR, Aug 31— The FBM KLCI is anticipated to trend within the range of 1,671-1,700 next week as investor sentiment is expected to improve regionally and globally, said Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng.
“The widening gap between the index and these moving averages further confirms the strength of the current uptrend,” he told Bernama. “Overall, the outlook remains positive as long as the index stays above its critical support levels, but caution is advised as the market nears overbought territory,” he added.
On a Friday-to-Friday basis, the FBM KLCI increased by 43.06 points to 1,678.80 from last week’s 1,635.74. On Bursa Malaysia’s index board, the FBM Emas Index rose by 150.45 points to 12,484.26, the FBM Emas Shariah Index increased by 24.62 points to 12,286.67, the FBM 70 Index declined by 270.51 points to 17,443.92, and the FBM ACE Index dropped by 99.60 points to 5,116.09.Sector-wise, the Financial Services Index surged by 696.88 points to 19,717.53, the Plantation Index soared by 113.02 points to 7,313.19, while the Industrial Products and Services Index retreated by 0.20 of-a-point to 181.
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