KUALA LUMPUR, Nov 15 — The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) trend is uncertain next week but could rebound on window dressing, a dealer said.
Inter-Pacific Research Sdn Bhd Head of Research Pong Teng Siew said year-end window dressing activities, which were expected to occur within the next two weeks, could lift the local stock market to a near high or a new high.
“We expect a strong rebound. It (Window dressing) should happen no later than the end of this month,” he told Bernama.
On the oil and gas related counters, he said the downtrend in the counters is expected to continue as there is no certainty in the level of crude oil bottom price.
“We cannot predict when the downtrend will end but the longer it drags down, the sharper the rebound will be,” he added.
For the week just-ended, the FBM KLCI eased 10.4 points to 1,813.79, the FBM Emas Index retraced 142.11 points lower to 12,534.9, the FBMT100 Index shed 114.45 points to 12,201.86.
The FBM 70 tumbled 297.78 points at 13,638.71 and the FBM Ace dipped 397.18 points to end the week at 6,381.39.
Sectorwise, while the Industrial Index added 3.83 points to 3,296.99, the Finance Index declined 182.24 points to 16,412.72 and the Plantation Index dipped 108 points to 8,366.28.
The weekly turnover contracted to 9.95 billion shares worth RM8.98 billion from 11.20 billion shares worth RM10.53 billion last week.
Main market volume decreased to 5.79 billion units valued at RM7.98 billion from 7.70 billion units valued at RM9.53 billion previously.
The ACE market volume declined to 3.88 billion units valued at RM962.25 million versus last week's 3.21 billion units valued at RM964.71 million.
Warrants turnover shrank to 246.5 million units worth RM27.44 million from 259.79 million units worth RM27.96 million transacted the previous week. — Bernama
