Bursa Malaysia is relied upon to stay bullish with the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) file inclining towards the 1,700 focuses level, an expert said.
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Affin Hwang Investment Bank VP and Retail Research head Datuk Dr Nazri Khan Adam Khan said the enhancing ringgit, rising oil costs and developing conviction that the US Federal Reserve would not bring financing cost up in the close term look good for the value market.
"Given the positive impetus and in addition enhanced speculator assessment, quick backing and resistance level is set at 1,650 and 1,680 focuses, separately," he told Bernama.
Nazri said raw petroleum picked up a major support with Brent, the worldwide unrefined petroleum benchmark, rising 2.3 for every penny, week-on-week, as the dollar slipped in light of frustrating information on the US administrations division, which fuelled stresses that the nation's assembling troubles were spreading.
"The falling dollar gave short covering firecrackers that push item costs higher," he said.
The business sector will be shut on Monday and Tuesday for Chinese New Year Celebration.
On a week after week premise, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) completed 5.34 focuses lower at 1,662.46 this occasion abbreviated week.
Be that as it may, prior in the week, a weaker US dollar and more grounded oil costs offered the nearby securities exchange some assistance with recouping misfortunes because of an overbought amendment.
The FBM Emas Index facilitated 41.09 focuses to 11,526.56, the FBMT100 Index declined 46.06 focuses to 11,233.8 and the FBM Emas Shariah Index diminished 78 focuses to 12,342.82.
On a sectoral premise, the Plantation Index shed 96.31 focuses to 7,819.89, the Industrial Index deleted 67.02 focuses to 3,253.59 while the Finance Index progressed 15.27 focuses to 13,897.68.
Week after week turnover shrank to 6.64 billion units, worth RM8.11 billion, from 7.51 billion units, worth RM9.85 billion, recorded a week ago.
Fundamental business sector volume tumbled to 4.66 billion shares, esteemed at RM7.71 billion, from 5 billion shares, worth RM9.36 billion, enrolled beforehand.
Warrant turnover diminished to 978.86 million units, worth RM171.3 million, from 1.10 billion units, worth RM203.07 million, exchanged a week ago. — Bernama
Affin Hwang Investment Bank VP and Retail Research head Datuk Dr Nazri Khan Adam Khan said the enhancing ringgit, rising oil costs and developing conviction that the US Federal Reserve would not bring financing cost up in the close term look good for the value market.
"Given the positive impetus and in addition enhanced speculator assessment, quick backing and resistance level is set at 1,650 and 1,680 focuses, separately," he told Bernama.
Nazri said raw petroleum picked up a major support with Brent, the worldwide unrefined petroleum benchmark, rising 2.3 for every penny, week-on-week, as the dollar slipped in light of frustrating information on the US administrations division, which fuelled stresses that the nation's assembling troubles were spreading.
"The falling dollar gave short covering firecrackers that push item costs higher," he said.
The business sector will be shut on Monday and Tuesday for Chinese New Year Celebration.
On a week after week premise, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) completed 5.34 focuses lower at 1,662.46 this occasion abbreviated week.
Be that as it may, prior in the week, a weaker US dollar and more grounded oil costs offered the nearby securities exchange some assistance with recouping misfortunes because of an overbought amendment.
The FBM Emas Index facilitated 41.09 focuses to 11,526.56, the FBMT100 Index declined 46.06 focuses to 11,233.8 and the FBM Emas Shariah Index diminished 78 focuses to 12,342.82.
On a sectoral premise, the Plantation Index shed 96.31 focuses to 7,819.89, the Industrial Index deleted 67.02 focuses to 3,253.59 while the Finance Index progressed 15.27 focuses to 13,897.68.
Week after week turnover shrank to 6.64 billion units, worth RM8.11 billion, from 7.51 billion units, worth RM9.85 billion, recorded a week ago.
Fundamental business sector volume tumbled to 4.66 billion shares, esteemed at RM7.71 billion, from 5 billion shares, worth RM9.36 billion, enrolled beforehand.
Warrant turnover diminished to 978.86 million units, worth RM171.3 million, from 1.10 billion units, worth RM203.07 million, exchanged a week ago. — Bernama
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