Bargain Hunting Expected on Bursa Malaysia Next Week

KUALA LUMPUR, Sept 26 – Bursa Malaysia is projected to experience renewed bargain hunting next week, with the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) expected to trade within the 1,660 to 1,690 range.

Over the past week, selective bargain hunting provided early support to the local bourse, though overall gains were constrained by elevated US Treasury yields, higher global oil prices, persistent geopolitical uncertainties, and foreign net selling.

The benchmark index concluded Friday marginally lower as investor sentiment was dampened by rising bond yields and escalating conflict in West Asia.

On a Friday-to-Friday basis, the FBM KLCI rose 6.06 points to settle at 1,671.62 at yesterday’s close, up from 1,665.56 recorded the previous week.

Across broad-market index boards, performance ended mixed over the week:

• The FBM Emas Index advanced 44.92 points to 12,456.64.
• The FBM Top 100 Index gained 33.09 points to 12,243.46.
• The FBM Mid 70 Index edged up 0.89 of a point to 17,844.91.
• The FBM ACE Index surged 288.26 points to 5,532.86.
• The FBM Emas Shariah Index dropped 5.76 points to 12,306.23.

Sector-wise, performance reflected shifting macro dynamics:

• The Financial Services Index added 137.86 points to 19,550.49.
• The Energy Index rose 41.21 points to 861.83, supported by elevated crude oil prices.
• The Plantation Index shed 161.57 points to 9,334.87.
• The Industrial Products and Services Index slipped 1.14 points to 184.10.

Weekly total turnover expanded to 17.11 billion units valued at RM14.07 billion, compared to 15.02 billion units worth RM14.18 billion registered in the preceding week.

Main Market volume rose to 10.41 billion units worth RM12.31 billion, up from 9.38 billion units valued at RM12.93 billion previously.

Warrant trading volume widened to 4.21 billion units valued at RM661.61 million from 3.61 billion units worth RM498.33 million. Meanwhile, ACE Market volume climbed to 2.48 billion units worth RM1.09 billion compared to 2.02 billion units valued at RM748.59 million a week earlier.

–NMT