Cautious trading likely

BURSA Malaysia is expected to trade in a cautious mode this week, with investors eagerly awaiting the outcome of tomorrow’s US presidential election.

Affin Hwang Investment Bank vice-president/head of retail research Datuk Dr Nazri Khan Adam Khan said with the uncertain economic outlook, the composite index is expected to be trapped between 1,640 and 1,660 points this week.

“The FBM KLCI, along with other regional markets, seems to be focused on the election, with no policy surprises made by the four central banks meeting this week,” he said.

With most investors hoping for Hillary Clinton to win the race, Nazri said, the market is expected to rebalance once the election is over.

Last week, the FBM KLCI lost 22.03 points to 1,648.24. turnover contracted to 7.22 billion units worth RM9.08 billion. – Bernama