FBM KLCI likely to consolidate sideways on weakening ringgit

KUALA LUMPUR: The FBM KLCI is expected to consolidate sideways this week due to the weakening of the ringgit along with the Middle East tension and pressure from the global bond market rout.

Inter-Pacific Asset Management Bhd chief economist and fund manager Datuk Dr Nazri Khan said the benchmark index might move within a tight range of between 1,430 and 1,450 next week with relative strength in plantation stocks as the biggest movers.