Bursa steady, may pick up on new money boost

IN spite of the market gyrations elsewhere, Bursa Malaysia seems to be holding quite steady, leading to the question of whether there are any prospects ahead for the local bourse.

“Yes, it is likely to pick up as the government has some new money. Government deposits are higher by 40% but there is no new money from the retail crowd. There is also zero growth in fixed deposits and savings,’’ said Pong Teng Siew, head of research, InterPacific Securities.