An analyst predicts the benchmark index to move between 1,370 and 1,400 next week.
Malacca Securities Sdn Bhd senior analyst Kenneth Leong said that after a surprise rate hike in early May, he expects the central bank to stay put at the upcoming MPC meeting.
"As such, we anticipate the FBM KLCI to trend sideways with a slight upward bias within the 1,375-1,390 range for the week with immediate resistance at 1,400 and support at 1,373,” he added. Sector-wise, the Financial Services Index went down 111.98 points to 15,332.87, the Plantation Index was 19.79 points lower at 6,698.65, the Industrial Products and Services Index eased 1.95 points to 156.92, and the Energy Index slid 10.99 points to 774.09.
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