KUALA LUMPUR: Optimism about the outlook of US interest rates and China’s improving economic prospects are set to drive Bursa Malaysia higher next week.
Chief economist and fund manager of Interpacific Asset Management Bhd Datuk Nazri Khan noted that the barometer index has managed to stay above the 1,450 psychological level despite recent volatility due to worries over the US Federal Reserve’s (Fed) hawkish monetary policy stance.
“The US headline inflation accelerated in August but the market action was positive. Generally, traders expect the Fed to keep the interest rate (unchanged) at its policy meeting next week,” he told Bernama.