Malaysian stocks expected to trade flat, palm oil lower next week

Market breadth was overwhelmingly negative to the tune of 727 to 170, with 330 counters unchanged. Out of the 100 FBM KLCI stocks, only four headed north.

KUALA LUMPUR: Bursa Malaysia is expected to stay flat in quiet trading next week, as the country will be celebrating a public holiday next Tuesday in conjunction with Prophet Muhammad's birthday.

Rakuten Trade Sdn Bhd Head of Research, Kenny Yee said profit-taking is also anticipated to take place due to the recent gains on the local bourse, leading the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) to trade between 1,690 and 1,710 points next week.