Modest rebound for Bursa next week on selective bargain hunting, says analyst
KUALA LUMPUR, May 25 — The FTSE Bursa Malaysia KLCI (FBM KLCI) is expected to see a modest rebound next week on continued bargain hunting after recent losses.
Mohd Sedek Jantan, UOB Kay Hian Wealth Advisors Sdn Bhd's head of investment research, said the recovery would likely be limited, driven by domestically focused sectors that stand to benefit from consumption-led growth and ongoing fiscal support.
'However, in the absence of a fresh macro or policy catalyst, upside momentum may prove limited near the psychological resistance level of 1,555. Beyond this threshold, trading activity may taper as market participants reassess valuations and risk-reward dynamics,' he told Bernama.
For the week just ended, Bursa Malaysia rebounded from its six-day losing streak on Friday as bargain-hunting emerged to improve risk sentiment.
On a Friday-to-Friday basis, the barometer index fell 36.37 points to 1,535.38 from 1,571.75 a week earlier.
The FBM Emas Index dipped 271.99 points to 11,474.05, the FBMT 100 Index slipped 239.6 points to 11,233.10, and the FBM Emas Shariah Index declined 247.96 points to 11,426.22. The FBM 70 Index lost 352.15 points to 16,350.26, and the FBM ACE Index fell 149.92 points to 4,615.94.
Across sectors, the Financial Services Index lost 385.07 points to 18,102.58, the Industrial Products and Services Index was 5.64 points easier at 154.04, and the Energy Index shed 18.61 points to 710.77.
The Plantation Index shrank 55.28 points to 7,330.3, and the Healthcare Index gained 46.45 points to 1,833.89.
Turnover eased to 14.05 billion units valued at RM11.28 billion from 14.98 billion units valued at RM12.68 billion in the preceding week.
The Main Market volume fell to 7.14 billion units worth RM10.06 billion against 7.46 billion units worth RM11.37 billion.
Warrant turnover was lower at 5.13 billion units worth RM645.54 million against 5.59 billion units worth RM703.66 million a week ago.
The ACE Market volume narrowed to 1.78 billion units valued at RM563.52 million from 1.93 billion units valued at RM601.97 million. — Bernama
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