FBM KLCI expected to rise to 1,460 next week, says economist – Berjaya Mutual Sdn Bhd

FBM KLCI expected to rise to 1,460 next week, says economist

04 Nov 2023

KUALA LUMPUR (Nov 4): The FTSE Bursa Malaysia KLCI (FBM KLCI) is expected to move in an uptrend next week as regional markets rally on bets of peak US interest rates and strong earnings.

Inter-Pacific Asset Management Bhd chief economist and fund manager Datuk Dr Nazri Khan said the positivity should also permeate to stocks on the FBM KLCI and extend its near-term upsides, although the recovery may still be measured due to the continuing cautiousness over Malaysia’s economic and corporate earnings outlook.

“Going forward, we expect the local bourse to be in rally mode towards the 1,460 level, aided by bullish year-end seasonalities, a pause of interest rates, strong economic data, positive earnings news, small-cap play and short covering activity,” he told Bernama.

Rosemarie Khoo Mohd Sani(2023, November 4) FBM KLCI expected to rise to 1,460 next week, says economist.

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