KUALA LUMPUR, Aug 13 — Bursa Malaysia is expected to continue its uptrend momentum next week despite the slowdown in the second quarter gross domestic production (GDP) growth. Affin Hwang Investment Bank Vice-President/Retail Research Head Datuk Dr Nazri Khan Adam Khan said the local benchmark would also be supported by positive regional and global economic sentiment.

He told Bernama that Malaysia’s manufacturing data, which recorded the highest in 11 months, coupled with a series of other data released on Thursday, have shown healthy signs that the local economy was on a positive momentum.

As for external factors, he said the recovery in global oil prices and the strengthening US economy may trigger more foreign funds inflow into the market next week.

Regional sentiment was also healthy with investors expecting the outcome of central banks’ meetings on interest rate to likely support Asian markets.

Nazri was optimistic that the local benchmark index would be able to break the 1,700 points level next week.

For the week-just-ended, the local market saw range-bound trading, helped by trading in heavyweights led-by trade and services, industrial and finance stocks.

On a Friday-to-Friday basis, the FBM KLCI added 20.11 points to 1,684.15, the FBM Emas Index surged 157.40 points to 11,834.76, FBMT 100 Index rose 151.43 points to 11,529.52 and the FBM Emas Shariah Index increased 181.96 points to 12,473.76.

On a sectoral basis, the Finance Index surged 214.42 points to 14,482.18, Industrial Index rose 68.79 points to 3,189.07 and the Plantation Index increased 4.76 points to 7,701.47.

Weekly turnover increased to 10.97 billion units, worth RM8.73 billion, from 10.02 billion units, worth RM8.94 billion, recorded last week.

Main market volume advanced to 6.59 billion shares, valued at RM8.34 billion from 6.25 billion shares, worth RM8.39 billion, previously.

Warrant turnover advanced to 3.01 billion units valued at RM315.38 million from 1.98 billion, worth RM251.31 million, registered  last week.

The ACE market slipped to 1.36 billion shares, worth RM337.22 million from last week’s 1.77 billion shares worth RM274.80 million. — Bernama