BERITA

Bursa likely to trend higher next week

KUALA LUMPUR, Nov 11 — The FTSE Bursa Malaysia KLCI (FBM KLCI) is expected to trend higher towards the 1,460 level next week, driven by Wall Street’s record best week in a year after US jobs growth slows.

Inter-Pacific Asset Management Bhd chief economist and fund manager Datuk Dr Nazri Khan said although the key index continued to lose ground to below 1,450, it is still able to hold on to its recent gains above 1,440 level at the end of this week’s trade.

The losses are slight and temporary, largely in tune with the weakness in regional indices after an overbought global weekly gain, he added.

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