Cautious trading likely
BURSA Malaysia is likely to see cautious trading this week ahead of the 2017 Budget announcement on Oct 21, dealers said.
Affin Hwang Investment Bank vice-president/head of retail research Datuk Dr Nazri Khan Adam Khan said stocks in the technology, telecommunications and construction sectors are likely to benefit from the 2017 Budget. “This includes stocks like My EG Services, Inari Amertron and Telekom Malaysia,” he said.
On the external front, Inter-Pacific Research Sdn Bhd head of research Pong Teng Siew said, the US Federal Reserve is unlikely to announce an increase in interest rates at its next policy meeting in December.
For the holiday-shortened week just ended, the FBM KLCI rose 12.83 points to 1,665.38. – Bernama