Higher trading likely

BURSA Malaysia is expected to trade higher this week in line with other regional peers as Wall Street rebounded on Thursday after it was dragged lower over fears of a trade war and the health of the technology sector in the US, said a dealer.

The US markets closed on Friday for the Good Friday holiday.

The dealer said at the end of the first quarter of the year, the mounting pressure faced by global markets over concerns on the US and China trade conflict tapered off as the situation had calmed down.

“Although it is expected that there will be less volume in trading (due to the Easter holiday in the US), the broader index will see a rally in the stocks,” the dealer told Bernama.

Another dealer said local investors might, however, be cautious as Parliament could be dissolved anytime now to make way for the 14th general election.

On a Friday-to-Friday basis, the FBM KLCI was 2.09 points weaker at 1,863.46 from 1,865.55.

Weekly turnover fell to 9.81 billion units worth RM9.54 billion from 10.62 billion units valued at RM10.41 billion.

Main market volume declined to 6.53 billion shares valued at RM8.95 billion from 6.98 billion shares worth RM9.8 billion.

Warrants turnover decreased to 1.57 billion units worth RM283.20 million from 1.63 billion units valued at RM296.74 million.

The ACE market contracted to 1.69 billion shares valued at RM303.96 million from 1.97 billion shares worth RM309.88 million.