By Nor Baizura Basri
KUALA LUMPUR, June 16 (Bernama) -- Share prices on Bursa Malaysia are likely to trend higher next week, following positive leads from the US market, coupled with impressive recovery from the Greece financial markets, Affin Investment Bank, Vice President, Head of Retail Research Dr Nazri Khan said.
Apart from that, he said, news that major central banks were preparing coordinated financial stimulus would also lend support to the bourses globally.
He said the fact that global equities, including the local bourse, had been holding well despite negative leads, suggested the local market's resilience.
"We reckon the Group of 20 central banks' decision to provide standby stimulus on any adverse Greece election results and the possibility of further liquidity measures from the Federal Reserve are likely to boost market confidence in the near term," he told Bernama.
Nazri said the biggest bullish driver this week would definitely be the Greece stock market which has rocketed sharply, reflecting investor confidence on positive outcome from the Greece national elections.
On the local front, he said, the coming initial public offering of Integrated Healthcare Holdings and Astro Bhd should provide catalysts.
The local bourse saw see-saw trading for the whole week with the FTSE Bursa Malaysia KLCI (FBM KLCI) moved between closing level of 1,570.94 and 1,579.23.
On a Friday-to-Friday basis, the FTSE Bursa Malaysia KLCI increased 8.61 points to 1,579.23 compared with last Friday's closing of 1,570.62.
The Finance Index rose 56.32 points to 14,124.53 but the Industrial Index declined 35.22 points to 2,744.05 while the Plantation Index jumped 112.85 points to 8,413.51.
The FBM Emas Index surged 77.26 points to 10,782.83 but the FBM ACE Index slipped 8.66 points to 4,213.56, the FBM Mid 70 Index advanced 145.46 points to 11,785.71 and the FBMT 100 Index improved 72.09 points to 10,611.67.
The weekly volume rose to 3.768 billion shares worth RM7.207 billion from last week's 3.372 billion shares valued at RM5.642 billion.
The main market turnover increased to 2.778 billion units worth RM7.046 billion compared with 2.342 billion shares valued at RM5.472 billion previously.
Volume on the ACE Market surged to 632.319 million shares valued at RM108.536 million from 492.735 million shares worth RM105.895 million registered last week.
Warrants decreased to 352.666 million valued at RM49.584 million against last week's volume of 453.057 million units worth RM61.432 million.