Mar­ket out­look re­mains pos­i­tive

The Star Malaysia - StarBiz - - Stocks -

THE FBM KLCI is likely to re­bound this week with the bench­mark in­dex mov­ing be­tween 1,750 and 1,760 points aided by the pos­i­tive sen­ti­ment brought by Bud­get 2018.

Af­fin Hwang In­vest­ment Bank vice-pres­i­dent and head of re­tail re­search Datuk Nazri Khan Adam Khan said the bud­get was con­sid­ered as ex­pan­sion­ary, with lots of in­cen­tives given to dif­fer­ent groups of peo­ple which in turn would be good for the na­tional econ­omy.

“The good­ies in the bud­get are ex­pected to cre­ate more spec­u­la­tion and spark ro­ta­tional buy­ing.

“The lo­cal mar­ket was over­sold and deeply con­sol­i­dated for seven weeks which had at­tracted bar­gain hunters from among lo­cals and for­eign.

“We are see­ing an in­creas­ing num­ber of bar­gain hunters en­ter­ing the mar­ket and ex­pect to see more with good sen­ti­ment sur­round­ing the lo­cal mar­ket,” he told Ber­nama.

Dr Nazri added that the lo­cal bourse was ex­pected to track its Asian peers which was ral­ly­ing on the back of a firm Wall Street, as well as, a con­tin­u­ous re­cov­ery in com­mod­ity prices.

On a weekly ba­sis, the bench­mark FBM KLCI im­proved 5.48 points to 1,746.13 from 1,740.65 the pre­vi­ous Fri­day.

The FBM Emas In­dex in­creased 37.82 points to 12,551.61, the FBMT 100 In­dex added 35.69 points to 12,191.47, the FBM Emas Shariah In­dex rose 484.32 points to 12,998.11 and the FBM 70 gained 35.13 points to 15,313.31.

The FBM Ace fell 68.03 points to 6,881.34. WEEKLY FBM KLCI

On a sec­toral ba­sis, the Fi­nance In­dex slipped 37.66 points to 16,258.44, the In­dus­trial In­dex im­proved 13.94 points to 3,204.17 and the Plan­ta­tion In­dex added 28.88 points to 7,951.47.

To­tal turnover in­creased to 12.96 bil­lion units, val­ued at RM10.76bil, from the pre­vi­ous week's 1.79 bil­lion units worth RM9.28bil.

Main Mar­ket vol­ume rose to 8.68 bil­lion shares, val­ued at RM9.97bil, from 6.43 bil­lion shares, worth RM8.35bil, pre­vi­ously.

War­rants turnover im­proved to 777.52 mil­lion units, worth RM80.23mil, ver­sus 626.73 mil­lion units worth RM70.06mil, traded the pre­vi­ous week.

The Ace Mar­ket de­creased to 3.43 bil­lion units val­ued at RM695.06mil com­pared with 4.66 bil­lion units val­ued at RM854.74mil, pre­vi­ously. – Ber­nama

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