Market outlook: FBM KLCI shows bullish momentum, set to consolidate between 1,680-1,700 next week

  • 📰 malaymail
  • ⏱ Reading Time:
  • 47 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 25%
  • Publisher: 86%

Bursa Malaysia News

FBM KLCI

KUALA 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...

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.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 1. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

FBM KLCI surges to near 4-year high as banking stocks lead rallyBANGKOK: Pheu Thai MPs have voted to expel Palang Pracharath Party (PPP) from the coalition because they believe PPP leader General Prawit Wongsuwan was behind Srettha Thavisin’s removal as prime minister.
Source: staronline - 🏆 4. / 75 Read more »