: Bursa Malaysia is expected to stay steady next week, supported by attractive valuations, strengthened corporate earnings, and improving economic conditions.
Despite the FBM KLCI experiencing a slight rebound, and both the 20-day and 50-day EMAs are showing signs of improvement, which indicated a potential shift to a positive trend in the upcoming sessions, Thong still expected choppy market conditions ahead. “Therefore, we anticipate the index to trade within the range of 1,540– 1,570 next week, with immediate support at 1,520 followed by 1,508 and resistance at 1,557 followed by 1,575,” he said.On the index board, the FBM Emas Index advanced 119.61 points to 11,543.59, the FBMT 100 Index jumped 117.25 points to 11,205.30, the FBM 70 Index surged 261.26 points to 15,664.64, the FBM Emas Shariah Index gained 167.62 points to 11,591.60, and the FBM ACE Index improved 20.01 points to 4,709.06.
Weekly turnover widened to 20.96 billion units worth RM15.95 billion from 17.37 billion units worth RM13.36 billion in the preceding week.
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