KUALA LUMPUR, Oct 24 — Bursa Malaysia is likely to trend upwards next week, with the benchmark index expected to trade within the 1,600-1,620 range amid a recovery in investors’ risk appetite, said an analyst.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng expects bargain hunting to intensify as investors take advantage of increasingly attractive valuations.
However, elevated crude oil prices, geopolitical uncertainties and persistent foreign selling could trigger intermittent volatility, he added.
“Overall, we anticipate the FBM KLCI to trade within the 1,600-1,620 range next week, with a mildly positive bias supported by selective accumulation of fundamentally sound stocks,” Thong told Bernama.
