Re­bound ex­pected

The Sun (Malaysia) - - MEDIA & MARKETING -

BURSA Malaysia is ex­pected to re­bound this week, fu­elled by pos­i­tive sen­ti­ment ahead of ex­pected fresh cat­a­lysts in Bud­get 2017.

Af­fin Hwang In­vest­ment Bank vice-pres­i­dent/head of re­tail re­search Datuk Dr Nazri Khan Adam Khan said the FBM KLCI is likely to move to the 1,680-point re­gion.

He said this will drive buy­ing in­ter­est mostly in tech­nol­ogy, telecom­mu­ni­ca­tions and con­struc­tion-re­lated stocks as they are likely ben­e­fit from the new bud­get. “The bud­get is ex­pected to be con­sumer friendly and it will have more in­cen­tives for the peo­ple.”

Prime Min­is­ter Datuk Seri Naib Ab­dul Razak, , who is also fi­nance min­is­ter, is sched­uled to ta­ble the bud­get on Fri­day.

On the ex­ter­nal front, he said, oil prices, the up­com­ing US pres­i­den­tial vote and the US in­ter­est rate in­crease prob­a­bil­ity will con­tinue to weigh on sen­ti­ment.

The oil price move­ment cou­pled with the devel­op­ment in the two world’s largest economies, the US and China, are among other fac­tors that will in­flu­ence risk ap­petite in the lo­cal mar­ket.

Last week, the FBM KLCI eased 6.41 points to 1,658.97. Turnover rose to 7.56 bil­lion units worth RM8.52 bil­lion. – Ber­nama

Newspapers in English

Newspapers from Malaysia

© PressReader. All rights reserved.