Bursa Malaysia to trade at 1,500–1,530 next week amid tariffs, Middle East tensions
KUALA LUMPUR: Bursa Malaysia's key index is set to move between 1,500 and 1,530 next week, as markets remain under pressure amid concerns over Washington's planned unilateral tariff letters and escalating tensions following Israel's strike on Iran.
UOB Kay Hian Wealth Advisors Sdn Bhd's head of investment research Mohd Sedek Jantan said markets are expected to remain vulnerable and trade lower in the near term, unless a meaningful breakthrough occurs over the weekend to de-escalate the conflict, an outcome he said appears unlikely.
"From a tactical standpoint, oil and gas (O&G) stocks may present short-term trading opportunities, particularly those with upstream exposure or companies expanding their upstream concessions, as they stand to benefit directly from the current rally in oil prices," he told Bernama.
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said market participants are advised to closely monitor ongoing geopolitical tensions and any developments related to US President Donald Trump's stance on US-China trade tariffs.
"We also believe the rise in crude oil prices could present opportunities for investors to explore O&G and commodity related stocks. We anticipate the benchmark index to trend within the 1,500-1,530 range, representing its support and resistance levels," he added.
Thong noted that if tensions continue to escalate, the second support level is projected at 1,485.
For the week just ended, Bursa Malaysia kicked off in positive territory at the beginning of the week, driven by positive developments in the US-China trade negotiations, stocks accumulation by local institutions, and a slowdown in foreign selling activity.
On a Friday-to-Friday basis, the barometer index rose 1.32 points to 1,518.11 from 1,516.79 a week earlier.
The FBM Emas Index gained 14.84 points to 11,370.18, the FBMT 100 Index added 20.35 points to 11,144.04, and the FBM Emas Shariah Index climbed 0.31 of-a-point to 11,329.53.
The FBM 70 Index increased 72.14 points to 16,368.71 while the FBM ACE Index fell 32.13 points to 4,487.19.
Across sectors, the Industrial Products and Services Index was 0.55 of-a-point higher at 151.35 and the Energy Index gained 22.31 points to 740.76.
The Plantation Index slid 31.93 points to 7,220.92, the Healthcare Index drooped 16.42 points to 1,777.72, and the Financial Services Index tumbled 60.06 points to 17,648.25.
Turnover surged to 13.89 billion units worth RM10.61 billion from 9.80 billion units worth RM8.18 billion in the preceding week.
The Main Market volume jumped to 6.42 billion units valued at RM9.47 billion against 4.50 billion units valued at RM7.21 billion previously.
Warrants turnover expanded to 5.97 billion units worth RM687.92 million versus 4.07 billion units worth RM533.43 million a week ago.
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