Bursa Malaysia likely to see further cautious sentiment this week

KUALA LUMPUR, June 27 (Bernama): Bursa Malaysia is likely to continue to trade in a cautious mode next week on the back of weak external development, including the resurgence of Covid-19 in the United States, as well as bearish economic outlook on the local and global fronts.

Bank Islam Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the FTSE Bursa Malaysia KLCI (FBM KLCI) had corrected quite significantly given that it had fallen below the 200-day moving average.