Bursa Malaysia to trade at 1,500-1530 this week amid tariff and middle east tensions
KUALA LUMPUR (Bernama): Bursa Malaysia's key index is set to move between 1,500 and 1,530 nthis 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.
The ACE Market volume improved to 1.50 billion units valued at RM458.75 million compared with 1.22 billion units valued at RM432.22 million in the preceding week. - Bernama
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Barnama
41 minutes ago
- Barnama
Fadillah Arrives In Tashkent For Official Visit To Uzbekistan
BUSINESS From Siti Radziah Hamzah TASHKENT, June 21 (Bernama) -- Deputy Prime Minister Datuk Seri Fadillah Yusof arrived in Tashkent, Uzbekistan early Saturday morning to begin his official working visit to the republic. Fadillah, who is also Minister of Energy Transition and Water Transformation, was welcomed by Uzbekistan's Deputy Minister of Energy, Azizkhoja Qobilov. Also present were Deputy Foreign Minister Datuk Mohamad Alamin and Malaysia's Ambassador to Uzbekistan, Ilham Tuah Illias. While in Uzbekistan, Fadillah is scheduled to pay a courtesy call on Uzbekistan President Shavkat Mirziyoyev and hold a meeting with Uzbekistan's Minister of Energy, Jurabek Mirzamakhmudov. He is also scheduled to deliver a keynote address at the United Nations Public Service Forum 2025 in Samarkand, where he will touch on Malaysia's best practices and innovations in public service. Fadillah will be in Uzbekistan until June 24 before continuing his working visit to Russia until June 28. -- BERNAMA
The Star
an hour ago
- The Star
Dr Wee officiates the launch of Malaysian Business Law Review 2025/2026 Edition
PETALING JAYA: Dr Wee Ka Siong officially launched the Malaysian Business Law Review 2025/2026 Edition, a joint publication by RDS Partnership and DeHeng Law Office, at the Asian International Arbitration Centre. In a Facebook post on Friday (June 20), the MCA president wrote that with China-Malaysia trade reaching new heights and Malaysia's strategic role growing within Asean and Bricks, the demand for legal clarity and accessible guidance has never been more critical. 'This publication, particularly tailored for Chinese investors, provides an insightful overview of Malaysia's business legal framework, from corporate to tax law,' wrote Dr Wee. He stated that the book, published in Chinese, improves accessibility for Chinese-speaking legal professionals in Malaysia and enables Malaysian perspectives to be more visible and understood within the broader Belt and Road legal discourse. 'Congratulations to the editorial team and all contributors on this meaningful milestone. May this review continue to grow as a platform for legal and business dialogue in our region,' wrote Dr Wee.
The Star
an hour ago
- The Star
Dr Wee: Top brass will weigh grassroots' views on future of MCA
KUALA LUMPUR: MCA's top leadership will take into account feedback from the grassroots before making any decision on the party's future direction, says party president Datuk Seri Dr Wee Ka Siong. He was responding to resolutions passed unanimously by several MCA divisions during their annual general meetings calling for Barisan Nasional (BN) to be dissolved. MCA's 191 divisions are currently holding meetings to propose resolutions on the party's future. The resolutions urged the party to transform itself into an independent national political entity and contest future general elections under the MCA logo. They also firmly rejected any form of political cooperation with DAP. Dr Wee said the MCA Central Committee would carefully consider the views expressed by grassroots members. 'The party leadership will listen to the voices on the ground. I myself have visited several states to engage with members and hear their views. (Left to Right) Datuk Seri Dr Wee Ka Siong, Michael Soo and Raphael Tay delivering a special address and attending the book launch of Malaysia Business Law Review at a talk on Navigating the Impact of Tariffs on China-Malaysia Trade. — AZLINA ABDULLAH/The Star 'When the time comes to decide, the Central Committee will make its decision,' he said after attending the Malaysian Business Law Review book launch yesterday. Dr Wee said June is the month when MCA state-level divisions hold their annual general meetings, and these provide a good opportunity to gauge wider sentiments. Dr Wee stressed that while the leadership respects the grassroots members' views, the party's immediate focus is preparing for the upcoming state elections. 'With a few state polls approaching, MCA's priority now is to be well-prepared for those contests,' he said. All MCA divisions across the peninsula and in Sabah are currently convening for their annual general meetings (AGMs), with state-level AGMs scheduled for next month. The party does not have a presence in Sarawak. However, Barisan chairman Datuk Seri Dr Ahmad Zahid Hamidi in an earlier statement said he was confident that MCA would remain in the coalition, despite possible calls within the party to push for a departure. Meanwhile, on the tariffs imposed by the US administration on Malaysian goods, Dr Wee, who is also Ayer Hitam MP, said the three-month grace period would end on July 9. 'Only then will we fully understand the extent of the impact. Negotiations are ongoing, and I wish Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz, who is currently in Washington DC leading the talks, and the Malaysian delegation all the best,' he said. Dr Wee pointed out that Malaysia's trade deficit with the US stands at just 5.6% – a far cry from the 47% figure previously cited by American officials. 'There is a significant disparity in the data. Dialogue is the way forward that would serve the interests of both nations.' Malaysia faces a 24% tariff on certain exports to the US unless both sides can reach an agreement before the 90-day pause. Separately, Prime Minister Datuk Seri Anwar Ibrahim revealed that ongoing negotiations with the US over its unilateral tariffs are progressing well. Earlier, Dr Wee officiated the launch of the Malaysian Business Law Review, a joint publication by RDS Partnership and DeHeng Law Office. The book aims to provide Chinese investors with accessible, Mandarin-language insights into Malaysia's business legal landscape. He said the book's focus on key areas such as corporate law, intellectual property, taxation and employment law makes it a valuable reference for investors. 'The use of Mandarin enhances accessibility for Chinese-speaking legal professionals and helps position Malaysian legal perspectives within the broader Belt and Road legal discourse,' he said.
