Bursa Malaysia Expected to Rise Amid Fed Rate Cut Hopes
Key Points:
1. Market Trend:
• Bursa Malaysia is expected to trade higher next week, driven by anticipation of a Federal Reserve rate cut due to soft US inflation data.
• Bursa Malaysia is expected to trade higher next week, driven by anticipation of a Federal Reserve rate cut due to soft US inflation data.
2. Index Movements:
• The FBM KLCI is forecasted to range between 1,610 to 1,650.
• Last week, the FBM KLCI eased 0.28 points to 1,590.09, showing market consolidation.
• The FBM KLCI is forecasted to range between 1,610 to 1,650.
• Last week, the FBM KLCI eased 0.28 points to 1,590.09, showing market consolidation.
3. Sector Performances:
• Declines in the Energy, Industrial Products and Services, and Plantation indices.
• Financial Services Index rose by 38.20 points.
• Declines in the Energy, Industrial Products and Services, and Plantation indices.
• Financial Services Index rose by 38.20 points.
4. Volume and Turnover:
• Overall market turnover increased, with notable activity in warrants and the ACE Market.
• Overall market turnover increased, with notable activity in warrants and the ACE Market.
Outlook:
• Positive outlook due to Fed rate cut expectations, though caution advised due to global volatility. The FBM KLCI is predicted to continue consolidating in the short to mid-term.
• Positive outlook due to Fed rate cut expectations, though caution advised due to global volatility. The FBM KLCI is predicted to continue consolidating in the short to mid-term.
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