KUALA LUMPUR, May 9 — Bursa Malaysia is expected to trade in range-bound mode next week after the benchmark index, FBM KLCI, successfully breached above the 1,750 level, supported by improving global risk appetite and Wall Street’s repeated record highs, said an analyst.
IPPFA Sdn Bhd director of investment strategy and country economist Mohd Sedek Jantan said, while the global artificial intelligence (AI) and technology theme remains the key market driver, investor focus is now shifting away from the “Magnificent Seven” towards second-tier AI infrastructure, software and semiconductor ecosystem players.
The “Magnificent Seven” consists of Nvidia, Microsoft, Alphabet, Amazon, Meta Platforms, Apple, and Tesla, which are currently the most influential, high-growth technology companies dominating Wall Street.
“This transition could trigger near-term volatility and profit-taking across technology counters if earnings momentum moderates.
“At the same time, markets will continue to closely monitor geopolitical developments in West Asia, particularly oil price movements,” he told Bernama.
He said crude prices, which remained elevated above US$100 per barrel, could sustain inflationary concerns and dampen broader risk appetite, while any meaningful pullback in oil prices may help reinforce risk-on sentiment among global investors.
For the week just ended, Bursa Malaysia traded mostly higher, with sentiment influenced by the West Asia conflict, regional market performance and Bank Negara Malaysia’s decision to maintain the overnight policy rate (OPR) at 2.75 per cent.
On a weekly basis, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 26.04 points to 1,748.06 from 1,722.02 a week earlier.
On the index board, the FBM Emas Index increased 206.49 points to 12,930.23, the FBMT 100 Index jumped 212.47 points to 12,772.53, the FBM Emas Shariah Index garnered 119.95 points to 12,838.31, and the FBM Mid 70 Index increased 398.25 points to 18,484.22, while the FBM ACE Index eased 6.79 points to 4,611.32.
By sector, the Plantation Index tumbled 100.90 points to 8,838.41, the Industrial Products and Services Index inched down 1.66 points to 194.65, and the Energy Index slid by 28.36 points to 812.32, but the Financial Services Index soared 488.78 points to 20,373.81.
Weekly turnover expanded to 16.99 billion units valued at RM16.37 billion from 14.15 billion units valued at RM13.03 billion a week earlier.
The Main Market volume rose to 9.54 billion units valued at RM9.54 billion from 8.65 billion units valued at RM11.94 billion previously.
Warrants turnover swelled to 5.43 billion units valued at RM752.02 million compared with 4.02 billion units valued at RM539.16 million last week.
The ACE Market volume eased to 2.02 billion units valued at RM675.81 million from 2.06 billion units valued at RM812.78 million in the previous week. — Bernama