Bursa Malaysia likely to be muted this week (April 24-28)

The FBM KLCI is expected to trend within the range of 1,415-1,435 next week.

Nonetheless, Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said, investors would remain alert for bargain-hunting activities given the cheap valuation of the benchmark FTSE Bursa Malaysia KLCI .

He also noted that the anticipation that Bank Negara Malaysia might deliver a final interest rate hike in May would also be negative for local stocks. On the index board, the FBM Emas Index fell 117.95 points to 10,450.96, the FBMT 100 Index lost 111.06 points to 10,135.71 and the FBM Emas Shariah Index declined 167.52 points to 10,775.32.

Weekly turnover was weaker at 12.02 billion units worth RM6.96 billion versus 14.79 billion units worth RM8.88 billion last week.

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