KUALA LUMPUR (January 23): Trading on the Malaysian Stock Exchange is expected to be cautious ahead of next week’s meeting of the US Federal Reserve (Fed).
Bank Islam Malaysia Bhd economist Adam Mohamed Rahim said the local market would see a relatively slower investor participation next week amid a shortened week holiday, and Thaipusam to be celebrated on Thursday.
“In addition, the ringgit is expected to trade in the range of 4.02 to 4.03 RM for the US dollar next week, given support for a move by Bank Negara Malaysia (BNM) to maintain the overnight policy rate (OPR) on Wednesday unchanged, ”he said Named.
On January 18, Prime Minister Tan Sri Muhyiddin Yassin announced the Malaysian Economic and Rakyat Protection Assistance Package (PERMAI) in the amount of RM 15 billion containing 22 initiatives to combat Covid-19.
Meanwhile, on Jan. 19, U.S. Treasury Secretary candidate Janet Yellen put forward an argument for a major fiscal stimulus to mitigate the Covid-19 economic shock during a confirmation hearing in Washington.
On January 20, Joseph Biden was sworn in as the 46th U.S. president, instilling optimism in traders.
Based on Friday, the FBM KLCI reference value slipped 30.27 points to 1,596.74 from 1,627.01 from the previous week.
On the scoreboard, the FBM Emas index decreased by 142.72 points to 11,563.62, the FBMT 100 index decreased by 142.72 points to 11,563.62, the FBM 70 rose by 73.27 points to 14,901.68, the FBM Emas Shariah index decreased 155.74 points to 13,048.95, and the FBM ACE index declined 38.1 points to 10,758.01.
The sector index of financial services fell by 145.78 points to 14,885.66, and the index of industrial products and services by 1.45 points to 177.35, while the plantation index fell by 142.20 points to 7,223.16.
The energy index decreased by 24.98 points to 834.07, and the health index decreased by 59.03 points to 3,549.79, but the technology index increased by 5.2 points to 80.64.
Weekly turnover decreased to 33.18 billion units worth RM 22.61 billion from 34.5 billion units worth RM 25.36 billion in the previous week.
The main market volume decreased to 18.94 billion shares valued at RM 17.51 billion from 21.58 billion shares valued at RM 21.07 billion earlier.
The turnover of orders fell to 1.98 billion units worth RM 315.38 million from 2.52 billion units worth RM 403.12 million in the previous week.
The volume of the ACE market rose to 12.25 billion shares valued at RM 4.78 billion from 10.4 billion shares valued at RM 3.89 billion earlier.