KUALA LUMPUR: Bursa Malaysia is anticipated to remain in a consolidation phase next week, with investors closely monitoring both domestic and international developments that could influence market direction.
Rakuten Trade Sdn Bhd's equity research vice president Thong Pak Leng said global investors will be eyeing US economic data such as initial jobless claims and the S&P Global US Manufacturing Purchasing Managers Index (PMI). Back home, local traders will be looking for fresh leads from the country's export and import data as well as the Consumer Price Index.
"Hence, we anticipate the FBM KLCI to trend sideways within the 1,590-1,610 range for next week which represents the support and resistance levels," he told Bernama.
UOB Kay Hian Wealth Advisors head of investment research Mohd Sedek Jantan said the FBMKLCI retains the potential for recovery.
"Investor interest is likely to rebound in export-oriented sectors such as glove manufacturing and technology, which are positioned to benefit from rising global demand. Improving sentiment among local investors could help the index regain upward momentum, potentially breaking above the 1,600 level next week, provided buying interest remains strong," he added.
On a Friday-to-Friday basis, the FBM KLCI shed 28.80 points to 1,592.44 from 1,621.24 in the previous week.
The FBM Emas Index tumbled 160.54 points to 12,105.32, the FBM 70 Index declined 46.51 points to 17,818.88 and the FBM Emas Shariah Index lost 208.50 points to 12,023.30. The FBMT 100 Index rose 126.67 points to 11,966.46 and the FBM ACE Index added 2.24 points to 5,147.16.
By sector, the Financial Services Index dropped 100.18 points to 19,156.84, the Plantation Index dropped 5.40 points to 7,626.18 and the Technology Index eased 1.57 points to 59.58.
The Energy Index dipped 6.91 points to 827.17 and the Industrial Products and Services Index edged down 4.34 points to 168.27, however, the Healthcare Index climbed 1.33 points to 2,104.63.
Turnover reduced to 14.32 billion units worth RM12.14 billion compared with 14.87 billion units worth RM12.83 billion in the previous week.
The Main Market volume decreased to 7.47 billion shares valued at RM10.84 billion from 7.63 billion shares valued at RM11.09 billion last week.
Warrant turnover increased to 4.81 billion units worth RM561.08 million compared with 4.53 billion units worth RM691.43 million previously.
The ACE Market volume fell to 2.02 billion shares valued at RM730.34 million versus 2.71 billion shares valued at RM1.03 billion last week.
-- BERNAMA