Bursa Malaysia is expected to continue its upward momentum, erasing the losses recorded in earlier weeks.
An analyst said the FTSE Bursa Malaysia KLCI (FBM KLCI) had managed to breach the 1,350 immediate resistance level, showing that the key index could extend its gains further.Over the week, the gains on Bursa Malaysia also tracked other ASEAN markets as the FTSE Asean 40 records a strong performance, increasing more than four per cent to close at 7,581.14 points.
As for Bursa Malaysia’s performance, finance counters recorded an astounding gains, erasing last week’s losses to close 483.43 points higher, backed by renewed interest in blue-chip finance stocks such as Maybank and Public Bank.On the scoreboard, the FBM Emas Index rose 343.52 points to 9,186.30, the FBMT 100 Index increased 332.93 points to 9,122.23 and the FBM Emas Shariah Index appreciated 344.24 points to 10,008.38.The FBM 70 expanded 647.57 points to 10,535.84 and the FBM ACE Index added 247.83 points to 3,766.95.
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