Bursa Malaysia seen trading between the 1,500 and 1,530 level this week, pending fresh catalysts
KUALA LUMPUR (Bernama): The FTSE Bursa Malaysia KLCI (FBM KLCI) is set to trade between 1,500 and 1,530 points from Monday (Feb 9) onwards, pending fresh market catalysts, said an analyst.
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said market attention is anticipated to revolve around several important economic indicators, such as China's May consumer price index (CPI), producer price index (PPI), and its unemployment figures. Investors will also monitor the US CPI and PPI for May, and industrial output from the Eurozone for April.
"Domestically, the lack of market-moving news has kept the benchmark index in consolidation, and this is expected to carry over into the coming week,' he added.
UOB Kay Hian Wealth Advisors Sdn Bhd's head of investment research, Mohd Sedek Jantan, said investors would also be monitoring South Korea's unemployment rate, Japan's first-quarter gross domestic product (GDP) revision, and India's CPI - all of which could influence sentiment across the region.
While it remains difficult to adopt a fully constructive view at this juncture, he reckons downside risks to the FBM KLCI may be partially cushioned by undemanding valuations and continued ringgit strength.
"That said, while Malaysian stocks may currently be undervalued, offering attractive entry points, a strengthening ringgit against the US dollar could increase the cost of entry for foreign investors, potentially raising the risk premium due to reduced competitiveness of export-oriented sectors,' he added.
For the shortened week just ended, Bursa Malaysia was mostly lower on profit-taking, mainly due to cautious sentiment on the US-China trade talks and a lack of positive economic figures from the two countries.
Bursa Malaysia Bhd and its subsidiaries were closed on Monday, June 2, 2025, in conjunction with the official birthday of His Majesty Sultan Ibrahim, King of Malaysia.
On a Friday-to-Friday basis, the barometer index fell 27.03 points to 1,508.35 from 1,508.35 a week earlier.
The FBM Emas Index gained 55.54 points to 11,355.34, the FBMT 100 Index added 62.69 points to 11,123.69, and the FBM Emas Shariah Index climbed 72.96 points to 11,329.22. The FBM 70 Index picked up 95.06 points to 16,296.57, but the FBM ACE Index fell 31.71 points to 4,519.32.
Across sectors, the Financial Services Index narrowed 132.23 points to 17,708.31, the Industrial Products and Services Index was 1.85 points easier at 150.80, and the Energy Index gained 10.41 points to 718.45.
The Plantation Index grew 45.00 points to 7,252.85, but the Healthcare Index weakened 22.81 points to 1,794.14.
Turnover fell to 9.80 billion units worth RM8.18 billion from 14.80 billion units valued at RM12.78 billion in the preceding week.
The Main Market volume shrank to 4.50 billion units valued at RM7.21 billion against 7.21 billion units worth RM11.50 billion.
Warrant turnover declined to 4.07 billion units worth RM533.43 million versus 5.90 billion units worth RM721.75 million a week ago.
The ACE Market volume weakened to 1.22 billion units valued at RM432.22 million compared with 1.66 billion units worth RM543.90 million. - Bernama
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Sun
37 minutes ago
- The Sun
MIDF Research: Crude oil prices to remain under pressure as supply outpaces demand
KUALA LUMPUR: Crude oil prices are expected to remain under pressure and could fall below US$65 (RM274) per barrel (pb) due to persistent oversupply and weaker demand projections, according to MIDF Amanah Investment Bank Bhd (MIDF Research). However, MIDF Research noted that prices may stabilise over the longer term, even as inventories continue to rise. Sentiment surrounding trade policy developments between the United States and China remains a significant risk to market movements, it said in a note. 'Natural gas and liquified natural gas (LNG) are expected to see a rebound after May 2025's maintenance round concluded for most of the global gas and LNG facilities. Nevertheless, the downside risks to the lower oil price remain on new exploration projects, but may be beneficial for onshore storage, long-term tankers and retail fuel,' it said. MIDF Research opines that the scenarios of the global oil market and global economy will continue to keep Brent crude oil price within the US$60-65 pb range, averaging around US$62 pb this month. 'This lower expectation is considering the risks of post-US trade tariff pause, as well as the stockpiling of oil inventories in the near term,' said MIDF Research. Meanwhile, the investment bank said Asean collaborations have offered a brighter outlook for the oil and gas (O&G) sector. MIDF Research stated that Petroliam Nasional Bhd (Petronas) is continuing its aggressive exploration and production activities in the upstream sector, despite lower crude oil prices. Meanwhile, the midstream and downstream divisions are expected to turn towards sustainability and green energy solutions, integrating these initiatives into their operations. 'During the Asean summit that concluded in May 2025, the transportation and logistics of LNG and carbon capture and storage (CCS) were highlighted as strategic priorities for the region. 'More focus was set on renewable energy and hydrogen projects to be integrated with the conventional O&G developments, providing a balanced and sound energy transition as highlighted in Malaysia's National Energy Transition Roadmap,' it noted. MIDF Research said regional cooperation is likely to expand through energy security, carbon credit management, Environmental Corporation America compliance and CCS solutions. 'In addition, we opine that domestic demand and robust LNG exports will continue to locally support the sector. 'Overall, we retain a 'Neutral' view on the O&G sector, as it continues to face challenges, primarily from oil price volatility, driven by output hikes from the Organisation of the Petroleum Exporting Countries plus and non-Opec producers, including sluggish global demand due to tariff-related uncertainties,' it added. – Bernama
New Straits Times
2 hours ago
- New Straits Times
US cuts chinese medicine purchases threefold in April
MOSCOW: The United States drastically cut down the purchase of Chinese medicines in April, with imports in monetary terms showing a threefold drop to US$173.6 million compared to March, RIA Novosti calculations based on US customs data revealed on Sunday. The shipments of Iodine drugs made up the largest share of supplies in April, accounting for 75 per cent of Chinese medicine exports to the US. Additionally, antibiotics (9.5 per cent) and hormonal products (4.4 per cent ) also accounted for significant volumes of shipments in money. The major sellers of drugs to the US in April were India (19 per cent of US imports), Ireland (14 per cent) and Switzerland (13 per cent). China, with a 12 per cent share, ranked 12th, along with Hungary, Denmark and Japan. China and the US are now essentially in a state of trade war, which erupted after US President Donald Trump imposed a 10 per cent tariffs on imports of all Chinese goods in February, raising it to 20 per cent in March. After several reciprocal measures, the US tariff against Chinese goods reached 145 per cent, and the rate for US suppliers to China hit 125 per cent. However, already in mid-May, China and the US mutually reduced trade tariffs to 10 per cent, from May 14 for 90 days. Consequently, China started imposing a 10 per cent tariff on US imports, while the US levied a 30 per cent tariff on Chinese products as the 20 per cent "fentanyl" tariff remained in effect. In late spring, the sides accused each other of violating preliminary agreements.
New Straits Times
2 hours ago
- New Straits Times
Halal industry among key growth drivers in IMT-GT, BIMP-EAGA
KUALA LUMPUR: The rapidly-growing halal industry is among nine sectors that can trigger high economic growth in the Indonesia-Malaysia-Thailand Growth Triangle (IMT-GT) and the Brunei Darussalam-Indonesia-Malaysia-Philippines East ASEAN Growth Area (BIMP-EAGA). The other key sectors include sustainable agriculture and agribusiness; tourism; green and renewable energy (RE); the digital economy; transport and logistics; palm oil and downstream industries; and Islamic finance, according to International Islamic University Malaysia (IIUM) associate professor of economics, Dr Muhammad Irwan Ariffin. The marine and fisheries industries are exclusive to the BIMP-EAGA sub-region, he noted. He said the halal industry in both IMT-GT and BIMP-EAGA sub-regions holds strong global demand for halal food, cosmetics, finance and tourism. "It shares Islamic values across Malaysia, Indonesia, Brunei, southern Thailand and Mindanao, making it a strategic goal to develop IMT-GT as a global halal hub," he told Bernama. Turning to the agricultural sector, Muhammad Irwan said the combination of vast arable land and a tropical climate drives strong demand for high-value crops, organic farming, agro-processing and agribusiness value chains, which are essential for supporting rural economies. As for the digital economy, he said increasing internet access in rural areas across the sub-regions has driven the growth of e-commerce, fintech and digital skills development, alongside plans for smart cities and cross-border digital corridors. "The sub-regions, which are known for their rich biodiversity, natural parks, and cultural heritage, are increasingly focusing on eco-tourism, halal tourism, and cross-border travel circuits, supported by strategic initiatives such as the Visit IMT-GT Year 2023–2025 campaign," he continued. "In the Islamic finance sector, the large Muslim population and underserved rural communities present opportunities for inclusive growth through shariah-compliant financial services that support the development of small and medium enterprises (SMEs) across the regions." IMT-GT, BIMP-EAGA align with broader ASEAN goals Muhammad Irwan said that while ASEAN's broader goals for economic integration and connectivity are guided by the ASEAN Economic Community (AEC) Blueprint 2025 and the Master Plan on ASEAN Connectivity (MPAC) 2025, the IMT-GT and BIMP-EAGA sub-regions can align with these objectives through five key areas. Firstly, he explained that the sub-regions can support ASEAN's goal to narrow development gaps across the region by focusing on peripheral areas by creating economic opportunities in places often overlooked by national strategies, helping ASEAN advance as a more cohesive and inclusive community. Secondly, he stated that IMT-GT and BIMP-EAGA can support ASEAN's goal of developing seamless transport, trade facilitation, and digital infrastructure, as outlined in MPAC 2025, by investing in cross-border infrastructure like roads, ports, and airports, and by coordinating efforts on border trade facilitation, customs harmonisation, and logistics. "For example, BIMP-EAGA has launched 210 priority infrastructure projects (PIPs) as of October 2024, including the expansion of border economic zones and connectivity corridors, directly supporting MPAC's aim to physically link ASEAN markets," he said. Muhammad Irwan said IMT-GT and BIMP-EAGA can support ASEAN's goal to increase intra-ASEAN trade and investment by focusing on regional supply chains in agriculture, halal products, tourism, and manufacturing. For example, IMT-GT's Halal Industry Development initiative supports ASEAN's bid to become a global halal hub. "IMT-GT and BIMP-EAGA also facilitate cross-border investments and SME partnerships, which deepen economic interdependence within ASEAN and integrate border regions into the broader ASEAN market," he added. He said sub-regions can reinforce ASEAN's mission to have resilience, climate action, and sustainable development through promoting green infrastructure and sustainable tourism, such as UNESCO Geoparks. Muhammad Irwan also emphasised that IMT-GT and BIMP-EAGA can support ASEAN's goal to foster cultural ties, mobility, and shared identity by encouraging cross-border travel and joint festivals such as the Visit IMT-GT Year 2023–2025.
