KUALA LUMPUR, Sept 11 — Bursa Malaysia is expected to continue consolidating and trade in cautious mode next week as investors weigh the resurgence of new Covid-19 cases and its impact on the economy and companies’ earnings.
“Attractive valuations and perhaps the unveiling of the 12th Malaysian Plan on Sept 27 as well as Budget 2022 in October would motivate foreign investors to come to Malaysia,” he told Bernama. He noted that Bank Negara Malaysia’s decision to maintain the overnight policy rate at 1.75 per cent recently was seen as a precursor for a rate hike going forward, and coupled with the regional volatility, this would have an impact on the local bourse.
On a Friday-to-Friday basis, the benchmark index eased 13.22 points to end the week at 1,575.97 from 1,589.19 previously. During the trading week, weekly turnover increased to 23.66 billion units valued at RM14.69 billion, from 17.65 billion units valued at RM12.71 billion in the previous week.
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