KUALA LUMPUR, Jan 28 — Bursa Malaysia is expected to stage a rebound next week moving on an upside bias following the resumption of normal trading activities after the Chinese New Year holiday-shortened trading week, dealers said.
“While providing cheaper valuations and buying opportunities for investors, the performance of the benchmark index remained lagging compared to its regional peers,” he told Bernama. “We believe market bulls will have the upper hand in retesting the 1,518 to 1,528 hurdles as long as the benchmark index remains above the uptrend line and major 50-day and 200-day moving average support levels.
On the index board, the FBM Emas Index rose 50.88 points to 10.893.36, the FBM Emas Shariah Index gained 83.93 points to 11,177.55, and the FBMT 100 Index added 30.13 points to 10,563.91. The Plantation Index trimmed 40.19 points to 6,841.23 and the Financial Services Index dropped 64.94 points to 16,470.
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