KUALA LUMPUR, July 30 ― The trend for the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) is uncertain for next week but chances of rebounding will be heightened if global oil prices recover and following Japan’s stimulus package.

Affin Hwang Investment Bank Vice-President/Head of Retail Research Datuk Dr Nazri Khan Adam Khan said Japanese Prime Minister Shinzo Abe’s announcement of a 28 trillion yen stimulus package would spur demand in regional bourses.

“The package would flood liquidity into the system which will end up with emerging markets, including Malaysia,” he told Bernama.

Nazri was optimistic that global oil prices, which had fallen to a three month low-level, would rebound next week on the anticipation of supply control measures by the Organisation of the Petroleum Exporting Countries.

He said immediate support would be noted at the 1,650 points level while key resistance should be at the 1,680-points level. For the week-just-ended, demand in the local bourse was mostly influenced by trading in bluechips, depreciation of the ringgit and external news, including key policy meetings by the US Federal Reserve and Bank of Japan.

On a Friday-to-Friday basis, the FBM KLCI eased 4.16 points to 1,653.26 from 1,657.42 recorded the previous week.

The FBM Emas Index fell 26.06 points to 11,585.11, the FBMT 100 Index lost 23.44 points to 11,283.78 and the FBM Emas Shariah Index declined 17.59 points to 12,198.77.

On a sectoral basis, the Finance Index surged 84.81 points to 14,186.45 but the Industrial Index gave up 37.93 points to 3,095.15 and the Plantation Index trimmed 12.26 points to 7,562.24.

Weekly turnover increased to 8.88 billion units, worth RM8.72 billion, from 8.71 billion units, valued at RM8.41 billion, last week.

Main market volume rose to 6.42 billion shares, worth RM8.29 billion, from 5.80 billion shares, valued at RM7.89 billion, previously.

Warrant turnover shrank to 852.88 million units, worth RM151.47 million, from 1.14 billion units, valued at RM166.39 million, last week.

The ACE market reduced to 1.59 billion shares, worth RM271.98 million, from 1.75 billion shares, valued at RM344.53 million, previously. ― Bernama