Bursa M’sia to trade greater next week

KUALA LUMPUR: Bursa Malaysia is anticipated to trade higher next week in line with other local peers as Wall Street rebounded on Thursday after it was dragged lower over worries of a trade war and the health of the technology sector in the US, said a dealer.The United States markets closed on Friday for the Great Friday holiday.The dealer stated at the end of the very first quarter of the year, the mounting pressure faced by worldwide markets over issues on the US and China trade conflict lessened as the situation had calmed down.During the week, United States President Donald Trump was reported as saying that he might “hold up”a trade handle South Korea until he fulfilled North Korean leader Kim Jong Un later on this year, and would see whether they could reach a contract.”The improved belief could be among the logical factors for regional stocks, consisting of the weaker ones to move more powerful next week, supported by the strengthening of the ringgit against the US dollar and the improved oil rates which had actually broken its mental level of US$ 70 per barrel.”Although it is expected that there will be less volume in trading(due to the Easter vacation in the United States), the

wider index will see a rally in the stocks,”the dealership informed Bernama.He stated the support level for next week would be at 1,850, with resistance set at 1,880. Another dealership stated regional financiers might, however, be mindful as Parliament could be liquified anytime now to make method for the 14th basic election. On a Friday-to-Friday basis, the FBM KLCI was 2.09 points weaker at 1,863.46 from 1,865.55. The FBM Emas Index fell 15.07 indicate 13,045.59 but the FBM Emas Shariah Index rose by 31.92 points to 13,230.74 and the FBMT100 Index increased 4.50 indicate 12,849.02. The FBM 70 recuperated 62.46 indicate 15,601.39 but the FBM Ace toppled 226.03 indicate 5,455.89. On a sectoral basis, the Industrial Index was down 2.75 points to 3,237.67 and the

Plantation Index lost 47.32 indicate 8,001.38. The Financing Index, nevertheless, acquired 18.94 points to 18,227.97. Weekly turnover was up to 9.81 billion units worth RM9.54 billion from 10.62 billion units valued at RM10.41 billion. Main market volume declined to

6.53 billion shares valued at RM8.95 billion from 6.98 billion shares worth RM9.8 billion.Warrants turnover reduced to 1.57 billion systems worth RM283.20 million from 1.63 billion units valued at RM296.74 million.The ACE market

contracted to 1.69 billion shares valued at RM303.96 million from 1.97 billion shares worth RM309.88 million.Gold futures contracts on Bursa

Malaysia Derivatives are most likely to participate in a consolidation variety next week due to subsiding worries of a prospective trade war between China

and the US.Phillip Futures Sdn Bhd Dealer Leo Goh Advantage Hao said the declining trade tensions had enhanced investors’danger appetite, making them to avoid safe-haven possessions like gold. “We anticipate the bullion to take a break and move into a consolidation range in the week ahead, “he informed Bernama.For the week just ended, the Bursa Malaysia gold market was traded primarily lower, generally due to the revival of threat cravings among financiers, together with the fortifying of the ringgit.On a Friday-to-Friday basis, April 2018 fell 71 ticks to RM165.70 a gramme, while Might 2018, June

2018 and August 2018 decreased 76 ticks each to RM166.20 each, respectively.Weekly turnover enhanced to 38 lots worth RM632,875 from recently’s 18 lots worth RM300,000, while open interest narrowed to 55 agreements from 80 contracts formerly.– Bernama