KUALA LUMPUR, June 20 — Bursa Malaysia is likely to tread on a cautious mode next week on the back of external factors including the resurgence of Covid-19 in the United States and China and tensions on the Korean Peninsula, said an analyst. AxiCorp global chief market strategist Stephen Innes...
Bursa Malaysia experienced volatile trading throughout the week with the FBM KLCI declining by 47.19 points on Monday to end at 1,498.83 due to the resurgence of Covid-19 in the US and China, as well as weak oil prices, before rebounding to positive territory on Tuesday.— Bernama pic
“This is a consolidation before markets push higher. a bit of a mixed session as investors are struggling to see through a possible run of weaker economic data next week. The Asian Development Bank said Malaysia’s gross domestic product growth is forecast to contract 4.0 per cent this year and grow 6.5 per cent in 2021.On a Friday-to-Friday basis, the index slipped 38.76 points to end at 1,507.26.
Sector-wise, the Industrial Products and Services Index eased 4.39 points to 135.19, the Plantation Index gained 11.51 points to 6,797.55, and the Financial Services Index lost 431.95 points to 12,978.25.
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