KUALA LUMPUR, Dec 30 ― Bursa Malaysia is likely to trend higher in the first week of 2024 with a mild upside, to be driven by banking and technology stocks.
Inter-Pacific Asset Management Bhd chief economist and fund manager Datuk Nazri Khan expects the local market to trend between 1,450 and 1,460 next week with some bargain hunting likely to emerge.
“Furthermore, we see the year-end Christmas rally driven by feel-good factors and window dressing as well as overnight strength from Wall Street, coupled with signs that inflation has retreated and interest rate is expected to go down,” he told Bernama.
