Side­ways trade to con­tinue

The Sun (Malaysia) - - MEDIA & MARKETING -

SIDE­WAYS trad­ing is likely to con­tinue on Bursa Malaysia this week, with the com­pos­ite in­dex ex­pected to be trapped be­tween 1,660 and 1,680 points due to the weak mar­ket sen­ti­ment, said Af­fin Hwang In­vest­ment Bank.

The bank’s pres­i­dent/head of re­tail re­search, Datuk Dr Nazri Khan Adam Khan, said con­cerns over strug­gling Deutsche Bank will weigh down stock mar­kets glob­ally. “In­vestors are con­cerned about the fi­nan­cial is­sue faced by the Ger­man lender, which was fined US$14 bil­lion by the US Jus­tice Depart­ment over the sell­ing of mort­gage-backed se­cu­ri­ties.”

San Fran­cisco-based Wells Fargo’s sham ac­counts scan­dal, cou­pled with Fed­eral Re­serve’s readi­ness to in­crease in­ter­est rates will also af­fect the stock mar­kets, he said.

Last week, the FBM KLCI de­clined 18.44 points to 1,652.55. Turnover im­proved to 8.3 bil­lion units worth RM9.4 bil­lion. – Ber­nama

Newspapers in English

Newspapers from Malaysia

© PressReader. All rights reserved.