KUALA LUMPUR, Sept 6 — Share prices on Bursa Malaysia are likely to trade sideways at between 1,860 and 1,880 points next week, on lack of local leads, continuous tension in Ukraine and interest rate uncertainty in the US.

Affin Investment Bank Vice President and Head of Retail Research, Dr Nazri Khan Adam Khan said global equities were vulnerable to more consolidation as the US Federal Reserve shifts towards normalising monetary policy and the European Central Bank’s soft interest rate cuts. 

Based on historical precedent, Nazri Khan said Malaysian equities were expected to perform the strongest in the last quarter of the year, especially on a relative basis during a volatile time.

“We expect short-term excitement in the local market supported by year-end institutional accumulation following the launching of various large-scale initial public offerings (IPOs) in the medium-term,” he told Bernama.

The upcoming IPOs include 1Malaysia Development Bhd, Carimin Petroleum Bhd and Iskandar Waterfront Holdings Bhd.

For the week-just-ended, the FBM KLCI went up 2.35 points to 1,868.46 from 1,866.11 last Friday.     

The Finance Index rose 65.56 points to 17,531.88, the Industrial Index increased 7.47 points to 3,250.45 and the Plantation Index soared 40.05 points to 8,567.62.   

The FBM Emas Index was 60.49 points higher at 13,055.6, FBMT100 Index jumped 52.72 points to 12,635.67, the FBM 70 surged 201.36 points to 14,374.82 and the FBM Ace gained 36.01 points to 6,939.71.         

Weekly turnover fell to 11.03 billion shares valued at RM8.65 billion, from 15.18 billion shares valued at RM11.57 billion recorded last week.     

Main market volume decreased to 7.923 billion units worth RM8.10 billion from last week’s 10.92 billion units worth RM10.67 billion.         

Warrants turnover fell to 144.56 million units valued at RM17.99 million, from 213.89 million units valued at RM29.06 million registered last week.   

The ACE market volume contracted to 2.93 billion shares worth RM496.87 million, from 3.98 billion shares worth RM846.04 million previously. — Bernama