FBM KLCI set to hold steady above 1600 mark
Malaysia’s main stock index will likely hold steady above 1,600 points next week as traders watch upcoming trade talks between Washington and Beijing, market analysts said on Friday. The FBM KLCI gained 6.09 points to close at 1,613.27, with experts predicting the benchmark will trade between 1,600 and 1,630 as investors await clearer signals from diplomatic discussions.
American inflation data released Thursday night showed consumer prices rose 3 percent in September, below forecasts, giving the Federal Reserve room to lower interest rates at its meeting next week. Weekly trading volume fell to 13.53 billion shares worth 9.98 billion ringgit, down from 18.78 billion units valued at 16.18 billion ringgit the previous week.
The plantation sector led gains with a 48.43-point increase to 7,909.29, while financial services added 12.19 points to reach 18,204.63. Market watchers expect American corporate earnings reports to shape global investor confidence in the coming sessions.
