Bursa likely to continue uptrend next week
During the holiday-shortened trading week, Bursa Malaysia started a bit edgy on the back of weak market sentiment following Trump’s trade threats on Mexico and India, coupled with weak economic data from China. — Picture by Azneal Ishak
“Market players will closely watch the developments on the US interest rate as the recent non-farm payrolls data, which only grew by 27,000 jobs in May, the fewest in nine years, signalled that the economy is actually stumbling. During the holiday-shortened trading week, Bursa Malaysia started a bit edgy on the back of weak market sentiment following Trump’s trade threats on Mexico and India, coupled with weak economic data from China.
After being closed for two days, the key index rebounded yesterday following hopes for a rate cut by the United States, the easing of US President Donald Trump’s Mexico tariff threat worries, as well as better oil prices.The FBM Emas Index eased 7.72 points to 11,580.42, the FBMT 100 Index trimmed 10.14 points to 11,440.42 and the FBM Emas Shariah Index shed 5.33 points to 11,790.44.Sector-wise, the Financial Services Index fell 19.18 points to 16,828.86, the Plantation Index erased 49.
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