Bulls set to take charge

Business Times

SHARE prices on Bursa Malaysia are expected to trade higher this week amid positive external developments.

Analysts said despite a few exciting local leads, the local stock market in the past few weeks had proven to be resilient and to some extent, bullish.

They added that bulls are ready to charge into the market as they await for any news that may force their entry.

"I believe the time is now for investors to accumulate more stocks as our market has shown resilience all this while," said one analyst.

Another analyst said if the 1,852-level is breached, the benchmark FTSE Bursa Malaysia KLCI could re-test the all-time high of 1,882.20.

External development like the bullish testimony by United States Federal Reserve chairman Janet Yellen that it may consider the prospects of continued quantitative easing until there is solid data on economic strength is also good news to investors.

Analysts also said institutional investors are also positive on the renminbi, which has been volatile in recent weeks, but is now showing signs of improvement.

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