Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng told Bernama that trading may remain cautious as investors were still worried over the two economic giants’ growth stories despite the mild recovery seen in the domestic equities at the end of the week due to bargain hunting.
"We anticipate the FBM KLCI to trend within the range of 1,380-1,395 for next week,” he told Bernama. During the week, domestic and global risk sentiments have been bearish after China’s factory activity weakened further in May, underlining the economy’s shaky recovery due to volatility generated surrounding US debt ceiling deals.During the week, Bursa Malaysia mainly traded lower.
In contrast, the FBM 70 Index rose 124.64 points to 13,604.64, and the FBM ACE Index gained 89.36 points to 5,070.26.
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