KUALA LUMPUR (April 17): Bursa Malaysia is expected to continue its current momentum into next week, with the key index to move in a tight range amid cautious market sentiment.
Bank Islam Malaysia Bhd economist Adam Mohamed Rahim said the FTSE Bursa Malaysia KLCI (FBM KLCI) would likely move between 1,600 and 1,615 points next week.
“(The tight range expectation is because) investors would seek to find a balance between the nation's vaccination progress with the recent uptick in COVID-19 cases, which is signalling a fourth wave,” he told Bernama.
On the external front, Adam said there would not be many major events next week except for the upcoming European central bank meeting on April 22 which would likely provide guidance on its bond purchasing, moving forward.