Bursa to ease to 1,400-point level next week, says analyst

30 Sep 2023

KUALA LUMPUR (Sept 30): Bursa Malaysia will likely move on a downward trend next week, easing to 1,400 points from the current 1,420 points, as most stocks are struggling to find their next direction.

Inter-Pacific Asset Management Bhd chief economist and fund manager Datuk Nazri Khan said investors had raised their expectations that the US Federal Reserve is going to keep interest rates higher for longer.

“We expect the FBM KLCI to trend lower since it is below the 1,450 psychological level, and based on the latest transaction, we believe investors are pricing in a period of longer high interest rates,” he told Bernama.

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Siti Noor Afera Abu(2023, September 30) Bursa to ease to 1,400-point level next week, says analyst.

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Bursa to ease to 1,400-point level next week, says analyst

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