KUALA LUMPUR, July 13 — Share prices on Bursa Malaysia are likely to stage a further rebound next week on mild buying of blue-chips and lower-liners, dealers said.

A dealer said profit-taking will also continue as investors will be more cautious, due possibly to the release of China’s gross domestic product (GDP) figures on Monday.

“The market will be pressured under this scenario,” he said, adding that the investor focus would shift to China.

China’s GDP will be closely watched after the latest trade and manufacturing data showed disappointment, he said.

Hong Kong’s Hang Seng and China’s Shanghai Composite finished lower on Friday after China’s finance chief, Lou Jiwei, said the country’s GDP will likely average seven per cent this year and record even slower growth rate, at 6.5 per cent. 

TA Securities senior technical analyst, Stephen Soo, said the market might be volatile and moved within a tight range for the rest of next week.

“The near-term sentiment should be cautiously volatile as last week’s daily market volume declined towards weekend,” he told Bernama.

For the week just-ended, newly-listed AirAsia X Bhd closed a sen lower to RM1.26.

The budget carrier made its debut on Wednesday at RM1.26 on the Main Market of Bursa Securities, on a one-sen premium over its RM1.25 institutional price, with 9.15 million shares traded.

On a Friday-to-Friday basis, the FBM KLCI rose 13.38 points to 1,785.65 compared with last Friday’s close of 1,772.27.

The Finance Index increased 47.95 points to 1,785.65, Industrial Index inched up 7.4 points to 3,007.77 and the Plantation Index gained 106.15 points to 8,518.78.   

The FBM Emas Index rose 69.36 points to 12,425.31 and the FBMT100 Index jumped 10,961.92 points to 12,172.13.

The FBM Mid 70 Index declined 0.29 point to 14,252.26 and the FBM Ace Index decreased 4.82 points to 4,769.99.

Weekly turnover rose to 6.47 billion shares valued at RM8.74 billion from 6.32 billion shares valued at RM9.01 billion last week.

Main market volume increased to 5.23 billion units worth RM8.57 billion from 5.16 billion units worth RM8.82 billion previously.   

Warrants surged to 122.51 million shares valued at RM16.84 million from 120.20 million shares valued at RM16.98 million last week.   

The ACE market volume edged up 1.11 billion units worth RM151.89 million from 1.04 billion units worth RM162.44 million last Friday. — Bernama