KUALA LUMPUR, Sept 16 ― Optimism about the outlook of US interest rates and China’s improving economic prospects are set to drive Bursa Malaysia higher next week. Chief...
KUALA LUMPUR, Sept 16 ― Optimism about the outlook of US interest rates and China’s improving economic prospects are set to drive Bursa Malaysia higher next week.
The Fed will announce its decision on interest rates on September 20 but is due to meet again on November 1 and December 13. “We expect the benchmark to continue its upswing next week and trend within the range of 1,440 and 1,460,” he said. On a Friday-to-Friday basis, the FBM KLCI rose 4.08 points to end the week at 1,459.03 versus 1,454.95 a week earlier.
Sector-wise, the Industrial Products and Services Index put on 1.74 points to 174.48, the Energy Index gained 38.39 points to 893.86 and the Plantation Index climbed 173.06 points to 7,037.21.Weekly turnover was lower at 15.17 billion units worth RM12.02 billion versus 18.03 billion units worth RM10.77 billion in the preceding week.