Side­ways trade ahead

The Sun (Malaysia) - - MEDIA & MARKETING -

BURSA Malaysia is likely to trade side­ways this week, with the FBM KLCI mov­ing be­tween 1,620 and 1,640.

Af­fin Hwang In­vest­ment Bank vice-pres­i­dent/head of re­tail re­search Datuk Dr Nazri Khan Adam Khan said the mar­ket would be pres­sured by oil prices and height­ened spec­u­la­tion of an in­ter­est rate in­crease by the US Fed­eral Re­serve (Fed) in De­cem­ber.

“How­ever, at the same time, we ex­pect the re­cent multi-bil­lion-ring­git deals signed with China to be the cat­a­lyst for the lo­cal bourse,” he said.

On for­eign out­flows in emerg­ing mar­kets, Nazri said the sit­u­a­tion is ex­pected to nor­malise once the Fed de­cides on the in­ter­est rate.

Last week, the FBM KLCI rose 3.46 points to 1,627.26. – Ber­nama

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