Bursa likely to stage rebound this week

“We believe market bulls will have the upper hand in retesting the 1,518 to 1,528 hurdles as long as the benchmark index remains above the uptrend line and major 50-day and 200-day moving average support levels," Rakuten vice-president of equity research Thong Pak Leng.

KUALA LUMPUR: Bursa Malaysia is expected to stage a rebound this week moving on an upside bias following the resumption of normal trading activities after the Chinese New Year holiday-shortened trading week, dealers said.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said during the week, the local bourse was stuck in consolidation mode as sentiments were still cautious from the lack of buying catalysts despite the persistent buying from local institutions and retail investors.