Sideways trade ahead
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