Bursa Malaysia likely to hit 1,600-level next week on rising commodity prices

KUALA LUMPUR, April 4 (Bernama): The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) is likely to breach the 1,600-level this week in line with broader optimism in the Unites States’ (US) economy and expected bounce in commodity prices, said an analyst.

Axi chief global markets strategist Stephen Innes said, however, the key index would likely be weighed down by glove stocks, due to improving global vaccination rates that would lessen demand for medical items such as gloves.