Bursa likely to trend higher next week, expected to breach 1,500 level

KUALA LUMPUR (Sept 10): Bursa Malaysia is likely to trend higher next week, with the FTSE Bursa Malaysia KLCI (FBM KLCI) expected to break the 1,500 mark due to the optimism that there will not be a global recession. Hence, he reckoned the FBM KLCI to trend within the 1,500 to 1,530 range for next week. Weekly turnover widened to 11.39 billion worth RM7.86 billion from 9.43 billion worth RM7.9 billion in the previous week. The Main Market volume was higher at 7.01 billion units worth RM6.29 billion from 5.58 billion shares valued at RM6.65 billion in the previous week. The ACE Market volume firmed to 3.07 billion shares valued at RM1.36 billion from 2.64 billion shares valued at RM1.05 billion the week before.