There’s nothing to give Bursa a boost for now, say analysts

There’s nothing to give Bursa a boost for now, say analysts FMTNews FMTBusiness

KUALA LUMPUR: The general consensus is that trading on Bursa Malaysia will remain muted at least until after the elections in six states slated for Aug 12.

In airing the same views, Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the weak closing on Wall Street overnight should keep the FTSE Bursa Malaysia KLCI within the 1,380 to 1,390 range. Overnight, the Dow Jones Industrial Average lost 366 points while the Nasdaq declined by 113 points as the US 10-year yield edged past the 4% mark to 4.031%.

It expects the defensive-related sectors such as REIT, utilities and healthcare to take the spotlight on the back of renewed volatility while the property sector may breathe a sigh of relief following BNM’s move to pause OPR increases.

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