KUALA LUMPUR: BIMB Securities Research expects the unsuccessful summit in Doha to impact Bursa Malaysia and the FBM KLCI to trade at 1,720 to 1,725 on Monday.
It said the Doha talks ended without an agreement while oil prices fell more than 5% after the world's largest oil-producing countries failed to strike an output freeze deal.
Last Friday, the Malaysian market closed higher as the FBMKLCI rose 4.21 points or 0.24% to 1,727.99 lifted mainly by banking stocks.
BIMB Research said foreign funds remained net buyers in the week at RM364.4mil with more than half of the net buying on Friday at RM153.8mil.
Local institutions were net sellers throughout the week at -RM356.4mil and -RM158.2mil last Friday. Local retailers were net sellers at –RM8mil though they were net buyers at RM4.4mil on Friday.
Wall Street and Europe ended lower on Friday as investors remain cautious ahead of the Doha talks.
The DJIA closed down 0.16% to 17,897.46 and the S&P500 fell 0.10% to 2,080.73. In Asia, stocks ended mostly lower after data shows economy slowing further in China while investors took profits in Japan.
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