Bursa to track higher momentum next week on improve risk appetite

Publish date: Sat, 11 Apr 2015, 03:15 AM

KUALA LUMPUR: Shares on Bursa Malaysia are poised to trade higher next week, boosted by positive corporate sentiment and improvement in risk appetite.

Affin Hwang Investment Bank vice-president/head of retail research Datuk Dr Nazri Khan Adam Khan said the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) would remain buoyant amid a new round of recharged bullish momentum.

"FBM KLCI will maintain above the 1,830 point-level and support level of 1,800 points, before retesting the next resistance levels at 1,850 and 1,880 points," he told Bernama.

On the external front, he said delay in the US Federal Reserve rate hike, European mega stimulus, easing tensions between Iran and Western powers, and no-loan-default of Greece would help fuel Bursa Malaysia upside next week.

For the week just ended, the local market started the week firmer, spurred by the likely delay in US' interest rate hike, but the momentum pulled down by profit-taking activities that emerged on Wednesday.

On a Friday-to-Friday basis, the FBM KLCI gained 9.79 points to 1,844.31 from 1,834.52 last Friday.

The FBM Emas Index surged 79.43 points to 12,662.46, FBMT100 Index advanced 69.66 points to 12,348.75, the FBM 70 increased 94.42 points to 13,579.17, but the FBM Ace dropped 107.74 points to 7,124.3.

The Industrial Index improved 44.03 points to 3,401.12, the Finance Index eased 2.08 points to 16,325.86 and the Plantation Index trimmed 17.74 points to 7,794.55.

Weekly turnover decreased to 9.42 billion units worth RM9.26 billion from 10.94 billion units worth RM9.06 billion last week.

Main market volume rose to 5.63 billion shares valued at RM8.45 billion from 4.89 billion shares valued at RM7.95 billion the previous week.

Warrant turnover widened to 367.8 million units worth RM65.95 million from 345.75 million units worth RM68.04 million last Friday.

The ACE market volume surged to 8.41 billion shares valued at RM739.76 million from 5.69 billion shares valued at RM1.03 billion last week. - BERNAMA

Discussions
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fortunebullz

Bursa on correction wave 2 phase before attempt on next upleg! 1800 will be the major support!

2015-04-11 10:41

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