The local bourse may attract more trading interest ahead of the announcement of Budget 2023 scheduled for Friday, according to Kenanga Research on Monday (Feb 20).
Last week, the brokerage firm said, the benchmark FBM KLCI recovered swiftly from a low of 1,469 on Monday to as high as 1,495 last Thursday, before stopping at 1,477 last Friday, or just a notch above the preceding Friday’s close at 1,475.
“The highlight of this week will be the tabling of the revised Budget 2023 in Parliament on Friday afternoon, which hopefully will cheer up the market mood,” Kenanga Research said in its weekly technical review note.
Prior to that, the brokerage firm said investors could look forward to the release of the January external trade statistics due on Monday, and the January consumer price index report on Friday.
There will also be a deluge of quarterly corporate earnings announcements in the run-up to the end-February reporting deadline, including for Pos Malaysia Bhd, Petronas Dagangan Bhd, Genting Plantations Bhd and Telekom Malaysia Bhd.
As of 10.56am, the KLCI had shed 2.93 points to 1,473.97.
