KUALA LUMPUR, July 2 — Bursa Malaysia is expected to remain quiet next week as most traders will be on holiday for Hari Raya which is expected to start from Wednesday.

A dealer told Bernama said share prices will likely succumb to profit-taking as investors looked to square off their positions ahead of the holiday-shortened trading week.

"While we expect sideway short-term profit-taking to continue at the current 1,600-1,665 resistance level, eventually the local market should trend higher following the expectation of uptrend trading following the regional peers as the Britain exit (Brexit) referendum effects have eased,” he said.

On the domestic front, he said, the market's performance will also depend on the ringgit's movements against the US dollar as well as the global oil prices.

For the week just-ended, trading was mixed with bargain hunting seen in selective heavyweights. Profit-taking across-the-board emerged yesterday.

On a weekly basis, the FTSE Bursa Malaysia KLCI rose to 1,646.22, up 12.17 points from last Friday's 1,634.05. The FBM Emas Index rose 92.51 points to 11,485.82.

The FBMT100 Index fell 199.88 points to 11,193.43 and the FBM Emas Shariah Index eased 86.14 points to 12,054.98. The FBM 70 advanced 117.08 points to 12,946.60 and the FBM Ace rose by 10.32 points to 5,153.35.

Sector-wise, the Finance Index rose 159.09 points to 14,234.00, Industrial Index added 24.66 points to 3,096.26 and the Plantation Index was 35.13 points higher to 7,574.40.

Weekly turnover fell to 1.13 billion units worth RM1.13 billion from last Friday's 2.23 billion units worth RM2.36 billion.

Main market volume declined to 876 million shares valued at RM1.09 billion from 1.35 billion shares valued at RM2.17 last Friday.

Warrant turnover narrowed to 97.33 million units worth RM12.25 million from last week's 530.20 million units worth RM127.60.

The ACE market eased to 153.01 million shares valued at RM23.39 million from 338.96 million shares valued at RM61.84 million previously. — Bernama