Barefoot Investor: Share prices most likely will continue uptrend next week

According to Bursa Malaysia, there will be a continuous uptrend in the share prices next week. What says you?

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This uptrend signal, mostly driven by the foreign buying, whereby foreign funds were attracted by the economic reforms and government projects which were expected to gain pace in the second half.

The FTSE Bursa Malaysia KLCI (FBM KLCI),which broke the 1,577 resistance level to hit an all -time high of 11,582.94 recently, was expected to be sustained. It is believe that the market momentum was expected to remain positive until next week before the profit-taking set in.

Based on the Friday-to-Friday basis, the FBM KLCI rose to 1,582.94 from 1,564.66 last Friday.

As for the FBM Emas Index, it has increased to 10,866.11 from 10,742.61, meanwhile the FBM ACE Index slumped to 4,166.3 from 4,230.68 and the Finance Index lost jumped to 14,904.24 from 14,615.53.

Volume on the main market increased to 3.595 billion shares worth RM8.117 billion from 3.48 billion shares worth RM7.439 billion last Friday. (BERNAMA)


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