BURSA MALAYSIA TO MAINTAIN POSITIVE MOMENTUM NEXT WEEK

By Zarul Effendi Razali

KUALA LUMPUR, May 10 (Bernama) -- Bursa Malaysia is expected to maintain its positive momentum next week, supported by improving investor sentiment and a bullish global market outlook, a dealer said.

Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng noted that from technical perspective, the FBM KLCI is holding above both the 20-day and 50-day exponential moving averages (EMAs), indicating a bullish short-term bias.

“The Moving Average Convergence Divergence (MACD) remains above the signal line, with the histogram expanding positively, signalling rising momentum. These technical indicators suggest a constructive market outlook, with potential for further upside.

“Hence, moving forward to next week, we expect the rising momentum to persist with the benchmark index to hover between 1,520 and 1,560, representing the support and resistance levels, respectively,” he told Bernama.

Meanwhile, UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan has maintained a positive view on the FBM KLCI’s near-term trajectory, with the recent relief rally likely to continue.

“The benchmark index appears set to challenge the 1,555 resistance level—a threshold last tested in early March during a period of heightened tariff speculation—and may even extend toward 1,560 if momentum holds.

“Our short-term outlook remains supported by a combination of factors: a less confrontational tone in US-China relations, rising foreign capital inflows into Malaysian assets, and a generally stable ringgit,” he said.

The market will also focus on the United States-China trade talks scheduled on May 10 in Geneva, Switzerland. 

On a Friday-to-Friday basis, the key index gained 4.01 points to 1,546.50 from 1,542.49 a week earlier.

The FBM Emas Index gained 30.66 points to 11,520.04, the FBMT 100 Index advanced 28.69 points to 11,285.93, the FBM Emas Shariah Index garnered 85.41 points to 11,475.76, the FBM 70 Index put on 39.16 points to 16,313.70, and the FBM ACE Index rose 33.75 points to 4,682.95.

Across sectors, the Industrial Products and Services Index added 2.15 points to 154.44, the Energy Index slipped 1.53 points to 693.44, the Financial Services Index tumbled 185.66 points to 18,055.29, the Plantation Index shed 37.34 points to 7,246.43, and the Healthcare Index slid 53.83 points to 1,888.59.

Turnover surged to 14.27 billion units valued at RM11 billion from 10.96 billion units valued at RM8.26 billion in the preceding week.

The Main Market volume expanded to 6.95 billion units worth RM10.36 billion compared with 5.61 billion units worth RM7.44 billion previously.

Warrants turnover increased to 5.38 billion units worth RM724.18 million from 3.99 billion units worth RM399.64 million a week ago.

The ACE Market volume improved to 1.95 billion units valued at RM499.42 million from 1.35 billion units valued at RM411.63 million previously.

The market will be closed on Monday for Wesak Day holiday.

-- BERNAMA