Bursa Malaysia Eyes Gains as Foreign Inflows Boost Market
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Bursa Malaysia is expected to trade within a range of 1,640 to 1,670 next week, buoyed by a positive economic outlook, robust corporate earnings, a strengthening ringgit, and increasing foreign interest in the local markets. $FTSE Bursa Malaysia KLCI Index (.KLSE.GI)$ has shown resilience, rising 11.84 points to 1,635.74 on a Friday-to-Friday basis.
The week’s market sentiment was largely influenced by the anticipated rate cut by the U.S. Federal Reserve in September, which boosted foreign inflows into Malaysia’s capital and debt markets. Investors are also focusing on key investment themes like data centers, the Johor-Singapore Special Economic Zone, and the financial sector.
Weekly Performance and Trends
On Monday, the market surged above the 1,637 mark for the first time in three years, driven by earnings optimism. However, the rally was short-lived as profit-taking set in, exacerbated by negative cues from Wall Street. By the end of the week, cautious trading ahead of the Jackson Hole Symposium led to further consolidation.
Index and Sector Performance
• $FTSE Bursa Malaysia EMAS Index (.FBMEMAS.GI)$: Fell 1.32 points to 12,333.81.
• $FTSE Bursa Malaysia EMAS Shariah Index (.FBMS.GI)$: Decreased 139.99 points to 12,262.05.
• $FTSE Bursa Malaysia Top 100 Index (.FBM100.GI)$: Increased 37.35 points to 12,013.44.
• $FTSE Bursa Malaysia Mid 70 Index (.FBM70.GI)$: Declined 129.22 points to 17,714.43.
• $FTSE Bursa Malaysia ACE Index (.FBMMES.GI)$: Dropped 183.29 points to 5,215.69.
Key sector movements
• $Bursa Finance Services (0010I.BMS)$: Surged by 600.93 points to 19,020.65, leading the weekly gains.
• $Bursa Plantation (0025I.BMS)$: Rose 16.17 points to 7,200.17.
• $Bursa Industrial Products & Services (0002I.BMS)$: Retreated 2.19 points to 181.60.
• $Bursa Energy (0061I.BMS)$: Declined 30.57 points to 921.53.
Trading Volume and Turnover
For the week ending August 24, 2024:
• Turnover: Expanded to 18.63 billion units valued at RM17.64 billion, an increase from the previous week’s 17.67 billion units valued at RM13.44 billion.
• Main Market Volume: Advanced to 10.21 billion shares worth RM16.06 billion, up from 9.89 billion shares worth RM11.85 billion the prior week.
• Warrants Turnover: Improved to 5.63 billion units valued at RM650.47 million.
• ACE Market Volume: Increased to 2.76 billion shares worth RM932.47 million.
The week’s market sentiment was largely influenced by the anticipated rate cut by the U.S. Federal Reserve in September, which boosted foreign inflows into Malaysia’s capital and debt markets. Investors are also focusing on key investment themes like data centers, the Johor-Singapore Special Economic Zone, and the financial sector.
Weekly Performance and Trends
On Monday, the market surged above the 1,637 mark for the first time in three years, driven by earnings optimism. However, the rally was short-lived as profit-taking set in, exacerbated by negative cues from Wall Street. By the end of the week, cautious trading ahead of the Jackson Hole Symposium led to further consolidation.
Index and Sector Performance
• $FTSE Bursa Malaysia EMAS Index (.FBMEMAS.GI)$: Fell 1.32 points to 12,333.81.
• $FTSE Bursa Malaysia EMAS Shariah Index (.FBMS.GI)$: Decreased 139.99 points to 12,262.05.
• $FTSE Bursa Malaysia Top 100 Index (.FBM100.GI)$: Increased 37.35 points to 12,013.44.
• $FTSE Bursa Malaysia Mid 70 Index (.FBM70.GI)$: Declined 129.22 points to 17,714.43.
• $FTSE Bursa Malaysia ACE Index (.FBMMES.GI)$: Dropped 183.29 points to 5,215.69.
Key sector movements
• $Bursa Finance Services (0010I.BMS)$: Surged by 600.93 points to 19,020.65, leading the weekly gains.
• $Bursa Plantation (0025I.BMS)$: Rose 16.17 points to 7,200.17.
• $Bursa Industrial Products & Services (0002I.BMS)$: Retreated 2.19 points to 181.60.
• $Bursa Energy (0061I.BMS)$: Declined 30.57 points to 921.53.
Trading Volume and Turnover
For the week ending August 24, 2024:
• Turnover: Expanded to 18.63 billion units valued at RM17.64 billion, an increase from the previous week’s 17.67 billion units valued at RM13.44 billion.
• Main Market Volume: Advanced to 10.21 billion shares worth RM16.06 billion, up from 9.89 billion shares worth RM11.85 billion the prior week.
• Warrants Turnover: Improved to 5.63 billion units valued at RM650.47 million.
• ACE Market Volume: Increased to 2.76 billion shares worth RM932.47 million.
Outlook
As foreign inflows continue and the ringgit strengthens, the market is expected to benefit from Malaysia’s attractive investment opportunities. Sectors like data centers and finance are likely to remain in focus as global investors look for higher yields amid a favorable economic outlook.
As foreign inflows continue and the ringgit strengthens, the market is expected to benefit from Malaysia’s attractive investment opportunities. Sectors like data centers and finance are likely to remain in focus as global investors look for higher yields amid a favorable economic outlook.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
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