Bursa Malaysia to see range-bound trading next week

KUALA LUMPUR, Feb 13 (Bernama): Bursa Malaysia is expected to see range-bound trading of between 1,580 and 1,610 points next week, amidst the absence of Chinese markets which are closed for the Lunar New Year celebration, said Bank Islam Malaysia Bhd economist Adam Mohamed Rahim.

For the week just ended, the market saw range-bound trading as market participants reduced trading activities ahead of the long weekend.

Bursa Malaysia had traded half-day on Thursday -- the eve of the Chinese New Year (CNY) -- and was closed on Friday for the CNY.

The FBM KLCI rose 20.79 points to 1,599.42 at the close on Thursday versus 1,578.63 recorded last Friday.

On the scoreboard, the FBM Emas Index increased 159.5 points to 11,661.82 and the FBMT 100 Index rose 150.48 points to 11,380.04.

The FBM 70 jumped 211.83 points to 15,271.65 and the FBM Emas Shariah Index surged 57.89 points to 13,120.25, while the FBM ACE Index added 22.0 points to 10,883.23.

Sector-wise, the Financial Services Index surged 458.57 points to 15,038.47, the Industrial Products and Services Index gained 4.02 points to 180.57, and the Plantation Index rose 4.98 points to 7,145.69.

The Energy Index added 22.48 points to 861.8 and the Technology Index inched up 1.75 points to 87.67, while the Healthcare Index slipped 85.39 points to 3,472.11.

In the holiday-shortened week, turnover fell to 22.27 billion units worth RM14.87 billion from 26.16 billion units worth RM17.66 billion recorded in the previous week.

Main Market volume eased to 114.67 billion shares worth RM11.88 billion from 4.94 billion shares valued at RM13.54 billion last week.

Warrants turnover slid to 1.22 billion units worth RM206.98 million against 1.74 billion units worth RM307.50 million previously.

The ACE Market volume slipped to 6.38 billion shares valued at RM2.78 billion shares from 9.47 billion shares valued at RM3.80 billion.

Bursa Malaysia and all its subsidiaries will resume operations on Feb 15. - Bernama

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