The FBM KLCI index is expected to trade in the range of 1,420-1,440.
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the local bourse market undertone would likely improve, supported by a resurgence of foreign buying, the improving local economy as well as undemanding valuations of the FBM KLCI.
"That would be felt through an export market recession, so the sentiment is likely to remain tepid with global growth on a downswing and geopolitical risks between China and the US simmering. On a Friday-to-Friday basis, the FBM KLCI gained 4.45 points to end at 1,427.04 from last week’s 1,422.59. Sector-wise, the Financial Services Index trimmed 7.43 points to 15,701.27, the Energy Index rose 26.70 points to 863.51, the Industrial Products and Services Index was 3.67 points higher at 174.75 and the Plantation Index went down 9.61 points to 6,731.67.
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