KUALA LUMPUR, Jan 2 ― The key benchmark FTSE Bursa Malaysia (FBM KLCI) is expected to see range-bound trading next week as investors are likely to remain cautious over the market's outlook going forward, said a dealer.

The dealer said the index would like move between 1,660 and 1,700 points.

He said some investors would stay on the sidelines amid the lack of strong leads and uncertainties in global markets.     

“The market is likely to see downward bias post-year-end window-dressing activities especially if the crude oil market and ringgit depreciated further,” he said.                     

The local market was traded mostly higher this week on window-dressing activities before retreating on the last trading day ahead of the long weekend.

The market was closed on Friday for New Year holiday.                

For the holiday-shortened week, the FBM KLCI rose 29 points to 1692.51 from last Wednesday's 1,663.51. 

The FBM Emas Index rose 165.95 points to 11,793.65, FBMT100 Index increased 168.12 points to 11,470.57, the FBM Emas Shariah appreciated 194.87 points to 12,800.65, the FBM 70 gained 90.27 points to 13,135.15 and the FBM Ace expanded 56.57 points to 6,389.24.

Sector-wise, the Finance Index improved 145.27 points to 14,159.21, Plantation Index soared 113.91 points to 7,619.64 and the Industrial Index was 80.56 points higher at 3,269.80.

Weekly turnover rose to 6.98 billion units valued at RM6.66 billion from 5.08 billion units valued at RM4.78 billion recorded last week.

Main market volume increased to 4.66 billion shares valued at RM6.12 billion from last Wednesday's 3.39 billion shares valued at RM4.41 billion.

Warrant turnover surged to 851.14 million units worth RM132.4 million from 629.11 billion units worth RM115.16 million last Wednesday.      

The ACE market, however, fell to 1.47 billion shares valued at RM399.72 million from 1.06 billion shares valued at RM256.23 million previously. ― Bernama