BURSA MALAYSIA LIKELY TO TREND HIGHER NEXT WEEK

By Zufazlin Baharuddin

KUALA LUMPUR, May 3 (Bernama) -- Bursa Malaysia is expected to trend higher next week, supported by continued improvements in the global economic landscape and the return of foreign buying to the local bourse.

Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the renewed foreign interest, with overseas investors turning net buyers on Bursa Malaysia, points to the likelihood of further inflows.

“Malaysian equities continue to stand out on valuation grounds, which could increasingly capture the attention of global investors,” he told Bernama.

According to reports, China yesterday signalled its willingness to re-engage in trade discussions with the US. 

Meanwhile, UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said the overall performance of the FTSE Bursa Malaysia KLCI (FBM KLCI) this week exceeded earlier expectations with the index extending its rally to close at 1,542.49 on Friday.

“This stronger-than-expected performance suggests sustained investor confidence and underlying market resilience even amid global uncertainties,” he told Bernama.

The nonfarm payrolls (NFP) data for April would be pivotal in determining whether the US economy is facing a short-term, tariff-induced slowdown or entering a more prolonged downturn, he said prior to the data’s release.

“The markets are closely watching these indicators for signals on the underlying health of the US economy and potential implications for monetary policy, especially amid ongoing trade tensions,” he said.

According to NFP data, the number of jobs rose by 177,000 -- more than the 138,000 expected by economists -- showing that the US labour market remained resilient.

On a Friday-to-Friday basis, the key index gained 33.29 points to 1,542.49 from 1,509.20 a week earlier.

The FBM Emas Index gained 269.54 points to 11,489.38, the FBMT 100 Index advanced 267.32 points to 11,257.24, the FBM Emas Shariah Index strengthened by 306.09 points to 11,390.35, the FBM 70 Index jumped 483.44 points to 16,274.54, and the FBM ACE Index rose 25.63 points to 4,649.20.

By sector, the Industrial Products and Services Index added 3.56 points to 152.29, the Energy Index expanded 20.29 points to 694.97, the Financial Services Index went up 249.76 points to 18,240.95, the Plantation Index climbed 58.85 points to 7,283.77, and the Healthcare Index improved 73.27 points to 1,942.42.

Turnover shrank to 10.96 billion units valued at RM8.26 billion from 14.14 billion units valued at RM9.03 billion in the preceding week.

The Main Market volume dropped to 5.61 billion units worth RM7.44 billion compared with 6.62 billion units worth RM7.90 billion previously.

Warrants turnover decreased to 3.99 billion units worth RM399.64 million from 5.77 billion units worth RM571.23 million in the prior week.

The ACE Market volume declined to 1.35 billion units valued at RM411.63 million from 1.73 billion units valued at RM547.26 million previously.

-- BERNAMA