Positive Outlook for Bursa Malaysia Despite Minor Pullback
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Bursa Malaysia is expected to trade higher next week. The $FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$ closed slightly lower at 1,619.06, down 4.06 points, due to profit-taking in selected technology and utilities counters.
Market Trends
Despite the pullback, the overall market trend remains positive, with the $FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$ maintaining support above 1,603. The index is expected to target 1,630, buoyed by China’s export growth and improved US interest rate prospects.
Corporate News
• Financial Services: The $Bursa Finance Services (0010I.MY)$ Index rose by 196.67 points to 17,800.11, reflecting strong performance in this sector.
• Industrial Products and Services: $Bursa Industrial Products & Services (0002I.MY)$ index added 1.04 points to 200.96, showing stability.
• Energy and Plantation: $Bursa Energy (0061I.MY)$ and $Bursa Plantation (0025I.MY)$ sectors saw declines, with the $Bursa Energy (0061I.MY)$ Index easing by 2.23 points and the $Bursa Plantation (0025I.MY)$ Index slipping by 61.93 points.
Economic Indicators
China’s June export data showed an 8.6% year-on-year growth, contributing to market optimism. Additionally, the expectation of US interest rate cuts continues to support positive sentiment.
Market Sentiment
The market experienced a healthy correction, which is viewed positively for sustaining the upward trend. Immediate support levels are now at 1,600-1,608, with the index likely to trade within the range of 1,610-1,630 next week.
Forecast
Looking ahead, the $FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$ is expected to trade higher, supported by strong economic indicators from China and the US. Investors should monitor these trends and adjust their strategies accordingly.
Despite the pullback, the overall market trend remains positive, with the $FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$ maintaining support above 1,603. The index is expected to target 1,630, buoyed by China’s export growth and improved US interest rate prospects.
Corporate News
• Financial Services: The $Bursa Finance Services (0010I.MY)$ Index rose by 196.67 points to 17,800.11, reflecting strong performance in this sector.
• Industrial Products and Services: $Bursa Industrial Products & Services (0002I.MY)$ index added 1.04 points to 200.96, showing stability.
• Energy and Plantation: $Bursa Energy (0061I.MY)$ and $Bursa Plantation (0025I.MY)$ sectors saw declines, with the $Bursa Energy (0061I.MY)$ Index easing by 2.23 points and the $Bursa Plantation (0025I.MY)$ Index slipping by 61.93 points.
Economic Indicators
China’s June export data showed an 8.6% year-on-year growth, contributing to market optimism. Additionally, the expectation of US interest rate cuts continues to support positive sentiment.
Market Sentiment
The market experienced a healthy correction, which is viewed positively for sustaining the upward trend. Immediate support levels are now at 1,600-1,608, with the index likely to trade within the range of 1,610-1,630 next week.
Forecast
Looking ahead, the $FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$ is expected to trade higher, supported by strong economic indicators from China and the US. Investors should monitor these trends and adjust their strategies accordingly.
$NOVAMSC (0026.MY)$ $VELESTO (5243.MY)$ $EKOVEST (8877.MY)$ $BJCORP (3395.MY)$ $RENEUCO (7130.MY)$ $AZRB (7078.MY)$ $G3 (7184.MY)$ $ARMADA (5210.MY)$ $ASTRO (6399.MY)$ $TANCO (2429.MY)$ $MYEG (0138.MY)$ $SIMEPROP (5288.MY)$ $HUBLINE (7013.MY)$ $SMTRACK (0169.MY)$ $TECHNAX (2739.MY)$ $WCT (9679.MY)$ $AIMFLEX (0209.MY)$ $DATAPRP (8338.MY)$ $TOPGLOV (7113.MY)$ $PBBANK (1295.MY)$ $UUE (0310.MY)$ $TALAMT (2259.MY)$ $ATAIMS (8176.MY)$ $YTLPOWR (6742.MY)$ $SYGROUP (5173.MY)$ $FAJAR (7047.MY)$ $MRCB (1651.MY)$ $PESTECH (5219.MY)$ $IJM (3336.MY)$ $GAMUDA (5398.MY)$ $PUC (0007.MY)$ $ANEKA (0226.MY)$ $HIAPTEK (5072.MY)$ $K1 (0111.MY)$ $IWCITY (1589.MY)$ $YGL (0086.MY)$
$GESHEN (7197.MY)$ $PETGAS (6033.MY)$ $EG (8907.MY)$ $CARLSBG (2836.MY)$ $SUNCON (5263.MY)$ $CHINHIN (5273.MY)$ $SMRT (0117.MY)$ $SEAL (4286.MY)$ $THETA (9075.MY)$ $KIMLUN (5171.MY)$ $PIE (7095.MY)$ $YLI (7014.MY)$ $SYGROUP (5173.MY)$ $CRESNDO (6718.MY)$ $PPB (4065.MY)$ $BIPORT (5032.MY)$ $VOLCANO (0232.MY)$ $TEOSENG (7252.MY)$ $BAT (4162.MY)$ $SHL (6017.MY)$ $UUE (0310.MY)$ $EDARAN (5036.MY)$ $SCIENTX (4731.MY)$ $HLFG (1082.MY)$ $KNUSFOR (5035.MY)$
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