Bursa Malaysia likely to see muted trading with upside bias next week

KUALA LUMPUR, July 16 — Bursa Malaysia is likely to see muted trading with an upside bias next week following the recent heavy sell-off amid increasing market risks and volatility in global equity markets, said an analyst.

“Mild bargain-hunting in the glove and banking sectors may offset the recent decline in plantation and energy sectors,” he told Bernama. On the index board, the FBMT 100 Index fell 77.33 points to 9,815.75, the FBM Emas Shariah Index lost 111.57 points to 10,082.35, the FBM Emas Index decreased 88.64 points to 10,047.89, the FBM ACE shaved off 107.98 points to 4,559.83, and the FBM 70 weakened by 201.30 points to 11,995.01.

Weekly turnover dropped to 5.81 billion units worth RM4.81 billion from 9.45 billion units worth RM6.49 billion last week.

Source: News Formal (newsformal.com)

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