Bursa Malaysia will likely continue its positive momentum next week, driven by further improvement in global crude oil prices, which is now trading above US$40 a barrel.
Affin Hwang Investment Bank Vice-President and Retail Research Head Datuk Dr Nazri Khan Adam Khan said the barometer index was also expected to benefit from higher commodity prices especially palm oil.
The Malaysian Palm Oil Board announced this week that palm oil stocks fell 6.05% to 2.17 million tonnes in February versus 2.31 million tonnes registered in January 2016, signalling a possible increase in the commodity's prices.
Nazri said the decision by the European Central Bank to cut interest rates and expand its asset-purchase programme to €80 billion (RM363 billion) would boost the market globally and locally.
"All countries that use the euro will benefit from the decision and this will influence Asian shares," he said.
On the domestic front, Bank Negara Malaysia's decision to keep its overnight policy rate unchanged at 3.25% affirmed that liquidity in the banking system remained sufficient, also boosting more confidence among investors, he added.
On a weekly basis, the FBM KLCI finished 4.05 points better to 1,696.54 due mostly to the strengthening of global oil prices.
The FBM Emas Index added 13.54 points to 11,736.18, FBMT100 Index rose 17.37 points to 11,448.10 but the FBM Emas Shariah Index fell 15.01 points to 12,409.28.
The FBM 70 eased 16.69 points to 12,929.84 and the FBM Ace declined 61.49 points to 5,622.59.
On a sectoral basis, the Plantation Index jumped 164.34 points to 7,983.43, Industrial Index inched shed 4.39 points to 3,287.43 while the Finance Index rose 17.87 points to 14,381.83.
Weekly turnover rose to 9.61 billion units, worth RM9.99 billion, from 8.67 billion units, worth RM10.37 billion, last Friday.
Main market volume strengthened to 6.89 billion shares, valued at RM9.52 billion, versus last Friday's 6.14 billion shares valued at RM10.18 billion.
Warrants turnover increased to 1.01 billion units, worth RM579.96 million, against 993.77 million units, worth RM198.11 million, recorded the previous Friday.
The ACE market volume advanced to 1.71 billion shares, valued at RM271.79 million, compared with 1.41 billion shares, worth RM261.30 million. – Bernama, March 12, 2016.
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