KUALA LUMPUR, Oct 31 — Bursa Malaysia is expected to consolidate next week, with the FTSE Bursa Malaysia KLCI (FBM KLCI) projected to trade within the 1,600-1,630 range amid a mildly positive bias.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the outlook remains cautiously optimistic, with selective bargain hunting for fundamentally sound blue-chip stocks expected to support the local market.
“The benchmark index has demonstrated resilience around 1,600 this week, although a sustained move above the 1,620 level may prove challenging without stronger buying participation.
“Next week, investors will also monitor Bank Negara Malaysia’s monetary policy decision on November 5 and upcoming corporate earnings,” he told Bernama.
