Trading on Bursa Malaysia likely to remain cautious from Monday (Oct 7); key resistance levels to be around 1,650

Bursa Malaysia News

Trading on Bursa Malaysia likely to remain cautious from Monday (Oct 7); key resistance levels to be around 1,650
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KUALA LUMPUR : Cautious trading is set to continue on Bursa Malaysia this week, driven by the bearish outlook on the global economy amid rising geopolitical tensions in the Middle East.

"As such, we anticipate the benchmark index to trend within the range of 1,625-1,640, which represents the support and resistance levels,” he said. The local bourse traded mostly lower during the week just ended on selling activities amid concern over the Middle East tensions, despite China’s unveiling of fresh stimulus measures.

In terms of sectors, the Industrial Products and Services Index eased 1.24 points to 176.10, the Energy Index was 35.93 points higher at 892.68, the Financial Services Index slid 275.65 points to 19,190.68. and the Plantation Index trimmed 7.45 points to 7,185.78.

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