FBM KLCI likely to trade higher next week

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KUALA LUMPUR: The benchmark FBM KLCI is expected to trade higher next week, building on the stronger performance in the equities market, after bouncing off the critical level last week, said an analyst.

Maybank Investment Bank Bhd senior chartist Nik Ihsan Raja Abdullah said the local bourse could possibly see some minor consolidation due to profit-taking in property names after the recent rally, while banking stocks are expected to remain in a range-bound mode.