Day: July 27, 2024

KUALA LUMPUR, Bursa Malaysia is expected to remain in consolidation mode, with an upside bias for the time being, until fresh catalysts emerge. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said that despite this short-term consolidation, the longer-term trend remains upward as the index still holds above the 50-day exponential moving average (EMA). “We reckon sectors to focus on for next week are plantation, energy, and banks due to their appealing valuations. “Therefore, we anticipate the index to fluctuate within the 1,605-1,625 range next week with the support level identified at 1,600, followed by 1,592,” he told

KUALA LUMPUR, The FTSE Bursa Malaysia KLCI (FBM KLCI) futures contract on Bursa Malaysia Derivatives is likely to move in tandem with the underlying cash market next week. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng told Bernama that the market is expected to be in consolidation mode, with an upside bias. “Until a fresh catalyst emerges, the market seems to be stabilising within a certain range, showing resilience despite the recent declines,” he said. For the week just ended, spot month July 2024 declined 26.5 points to 1,613.5, August 2024 and September 2024 fell 25.5 points each

KUALA LUMPUR, The local rubber market is expected to experience sluggish demand next week, and prices are likely to be range-bound with a slightly higher bias, said industry expert Denis Low. He said the volatile weather conditions in rubber-producing regions would reduce rubber production and might trigger some stocking activity. ‘This will help push up prices as supply could be short,’ Low told Bernama. He also said the shipping disruption caused by the ongoing crisis in the Red Sea, along with the current geopolitical situation, has affected the supply chain. This may lead to volatile commodity prices as the ongoing

KOTA BHARU, The Federal Agricultural Marketing Authority (FAMA) recorded total sales of RM1.2 billion from various programmes held nationwide up to June this year. Its chairman, Aminuddin Zulkipli, said that with this figure, FAMA is confident of achieving the remaining RM800 million by the end of this year, thereby reaching the sales target of RM2 billion set for 2024. ‘The Agro MADANI sales programme has been one of the highest contributors, generating approximately RM80 million through 4,102 sales series, along with FAMA Fest and other FAMA sales branches,’ he told reporters after officiating FAMA Fest here yesterday. He said that

PUTRAJAYA, Education Minister Fadhlina Sidek shared the Issues regarding education and challenges of building a nation, especially in defending values, morals and religion as well as obstacles as a national leader with the Indonesian Islamic Propagation Council (DDII). The matter was touched upon at a meeting between Fadhlina Sidek and DDII chairman, Dr Adian Husaini, last night. “The initial relationship was built when my father was an ABIM (Islamic Youth Organisation of Malaysia) da’wah activist and this da’wah family relationship continues to this day. “May the relationship between the two countries continue to be close and provide great benefits to