FBM KLCI expected to consolidate sideways next week, says economist – Inter-Pacific Asset Management Prod Sdn Bhd

FBM KLCI expected to consolidate sideways next week, says economist

21 Oct 2023

KUALA LUMPUR (Oct 21): The FTSE Bursa Malaysia KLCI (FBM KLCI) is expected to consolidate sideways next week due to the weakening of the ringgit along with the Middle East tension and pressure from the global bond market rout.

Inter-Pacific Asset Management Bhd chief economist and fund manager Datuk Dr Nazri Khan said the benchmark index might move within a tight range of between 1,430 and 1,450 next week with relative strength in plantation stocks as the biggest movers.

Despite renewed concerns over the US interest rates and its 10-year Treasury yields hitting the highest level since 2007 (on Thursday), he expected the rising prices of crude oil and other commodities such as palm oil to cushion the local bourse.

Zairina Zainudin(2023, October 27) FBM KLCI expected to consolidate sideways next week, says economist.

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