Inter-Pacific Asset Management Sdn Bhd executive director and fund manager Datuk Nazri Khan Adam Khan said the benchmark index is expected to reach 1,450 points this week on the back of improving investor sentiment amid stronger economic data reported earlier last week.环球UG官网（www.ugbet.us）开放环球UG代理登录网址、会员登录网址、环球UG会员注册、环球UG代理开户申请、环球UG电脑客户端、环球UG手机版下载等业务。
PETALING JAYA: Bursa Malaysia is likely to trade higher this week, partly due to investors scaling back their expectations on the risk of a global slowdown, says an analyst.
Inter-Pacific Asset Management Sdn Bhd executive director and fund manager Datuk Nazri Khan Adam Khan said the benchmark index is expected to reach 1,450 points this week on the back of improving investor sentiment amid stronger economic data reported earlier last week.
“Malaysia’s economic data is better than expected. Employment and manufacturing data are stronger than pre-Covid-19, making the recession fears unfounded,” he told Bernama.
Last Thursday, the Statistics Department reported that the number of unemployed persons in May 2022 continued to decline with a reduction of 1.8% to 637,700 persons, from 649,300 persons the previous month.
The labour force situation in May 2022 also remained resilient, registering a month-on-month increase in the labour force with 0.2% to a record 16.54 million persons, from 16.5 million persons in April.
Last week, the local bourse was traded mostly lower amid the prevailing cautious sentiment in the market. Last Wednesday, Bank Negara decided to increase the overnight policy rate by 25 basis points for the second consecutive session, raising the interest rate to 2.25%.
The commodities rout had also weighed on the Energy Index and Plantation Index.,
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On Friday, the FBM KLCI advanced 7.10 points to finish the day at 1,425.79 from Thursday’s close of 1,418.69. On a weekly basis, the benchmark index was 23.96 points easier from 1,449.74 at the end of the previous week.
On the index board, the FBMT100 Index trimmed 166.63 points to 9,893.08, the FBM Emas Shariah Index lost 287.06 points to 10,193.92, the FBM Emas Index decreased 179.35 points to 10,136.53, the FBM ACE shaved off 116.71 points to 4,667.81 and the FBM 70 weakened by 207.23 points to 12,196.31.
Sector-wise, the Plantation Index gave up 289.86 points to 6,634.86, the Industrial Products and Services Index lost 8.86 points to 172.83, and the Energy Index was down 48.04 points to 636.44.
The Financial Services Index rose 20.31 points to 16,077.12, the Healthcare Index fell 12.55 points to 1,628.44, and the Technology Index eased 1.96 points to 59.95.
Weekly turnover was lower at 9.45 billion units worth RM6.49bil from 11.09 billion units worth RM7.95bil the previous week.
The Main Market volume narrowed to 5.74 billion shares valued at RM5.61bil from 7.15 billion shares valued at RM6.92bil in the previous week.
Warrants volume eased to 2.11 billion units worth RM412.91mil against 2.14 billion units worth RM444.94mil.