Bursa Malaysia Expected To Stage Recovery Next Week On Bargain Hunting

KUALA LUMPUR, Oct 24 – Bursa Malaysia is projected to trend higher next week, with the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) anticipated to trade within the 1,600-1,620 range as investor risk appetite gradually recovers.

Market analysts note that despite trading mostly lower throughout the week in tandem with regional peers amid Wall Street concerns over artificial intelligence (AI) investment sustainability, late bargain hunting helped push the main index higher on a point-to-point basis.

On a Friday-to-Friday comparison, the benchmark FBM KLCI rose 3.80 points to close at 1,611.56 compared to 1,607.76 recorded the previous week.

Total weekly turnover contracted to 14.21 billion units valued at RM12.55 billion, down from 16.41 billion units worth RM15.57 billion registered in the preceding week.

Weekly Index Movements, Sector Performance, and Volume Breakdown

Key index movements, sectoral performance, and market turnover comparisons for the week include:

• Major Index Trends: The FBM Emas Index added 1.18 points to 11,993.45, the FBM Top 100 Index grew 10.84 points to 11,797.61, and the FBM Emas Shariah Index gained 23.70 points to 11,943.57. Conversely, the FBM ACE Index slipped 84.93 points to 5,346.14, and the FBM Mid 70 Index declined 55.61 points to 17,170.33.
• Sectoral Drivers: Commodity-linked sectors led weekly gains, with the Plantation Index advancing 44.60 points to 8,677.48, the Energy Index climbing 13.67 points to 834.67, and the Industrial Products and Services Index adding 2.61 points to 175.40. On the downside, the Financial Services Index dropped 97.50 points to 18,654.32.
• Main Market Volume: Main Market turnover fell to 7.68 billion units valued at RM11.15 billion compared to 9.58 billion units valued at RM13.89 billion in the previous week.
• ACE Market & Warrants Volume: ACE Market turnover eased to 2.37 billion units valued at RM889.53 million from 2.60 billion units worth RM1.01 billion previously. Warrants volume decreased to 4.15 billion units worth RM514.80 million against 4.23 billion units worth RM573.41 million a week earlier.

–NMT