KUALA LUMPUR, April 1 ― Interest for beaten down counters is set to boost Bursa Malaysia’s performance with the main index expected to trade within the 1,420-1,440 level next week, said Rakuten Trade Sdn Bhd.
Meanwhile, an analyst said next week’s United States March ISM Manufacturing Purchasing Managers Index and jobless claims data will be closely monitored to gauge the US Federal Reserve’s future interest rate path. The absence of negative headlines about the US and Europe banking crisis helped to boost sentiment domestically and globally.
She pointed out that all banks in Malaysia are subjected to stringent capital and regulative rules to ensure the safety and stability of the banking system. On the index board, the FBM Emas Index climbed 161.45 points to 10,419.63, the FBMT 100 Index jumped 162.20 points to 10,114.03, the FBM Emas Shariah Index surged 117.22 points to 10,716.43 and the FBM 70 Index soared 214.66 points to 13,512.38.Sector-wise, the Financial Services Index chalked up 259.18 points to 15,708.70, the Energy Index rose 33.93 points to 836.81, the Industrial Products and Services Index was 5.54 points higher at 171.08 and the Plantation Index increased 27.