Bursa Malaysia is expected to continue to trade in cautious mode this week amid concerns over global economic developments.
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the local market undertone will remain cautious until the US debt ceiling issue is resolved, although bargain-hunting activities may emerge as well.
On a Friday-to-Friday basis, the FBM KLCI declined 25.56 points to end the week at 1,402.98 from last week’s 1,428.54. Sector-wise, the Plantation Index lost 271.29 points to 6,755.26, the Energy Index erased 31.22 points to 808.31, the Financial Services Index dropped 301.80 points to 15,304.43, and the Industrial Products and Services Index shed 0.91 points to 164.08.
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