KL shares likely to extend uptrend

Malaysian shares are expected to extend the uptrend next week, with investors likely to react positively to an improvement in consumer confidence amid recovery signs in the global economy, dealers said.

They said this will provide a catalyst to the benchmark FBM KLCI to further gain and hover between the 1,260 and 1,270 levels for the week.

An analyst said investors are also looking forward to the upcoming listing of Maxis Bhd, which is expected to boost the FBM KLCI's performance.

He said institutional investors locally and overseas should take the opportunity to gain direct exposure to a highly-liquid mobile telco player.
He said the local bourse next week is also expected to track the regional and Wall Street's performance for a cue.

On a Friday-to-Friday basis, the FBM KLCI increased 18 points to 1,260.76, the FBM Emas Index advanced 86 points to 8,422.83, the FBM Top 100 Index was 79 points higher at 8,210.11, the FBM70 however, decreased 40 points to 8,090.28 and the FBM ACE Index gained 382 points to 4,687.65.

The Finance Index surged 241 points to 10,776.29, the Plantation Index went down 29 points to 6,058.91 and the Industrial Index rose 32 points to 2,699.87.

Turnover for the week increased to 6.577 billion shares valued at RM6.715 billion from the 4.585 billion shares worth RM5.979 billion last week.

The Main Market volume went up to 5.354 billion shares worth RM6.339 billion from last Friday's 3.807 billion shares valued at RM5.72 billion.

The volume of call warrants, however, fell to 100.850 billion shares valued at RM19.928 million from 115.661 million shares worth RM25.167 million previously.

The ACE Market volume advanced to 1.009 billion shares worth RM285.710 million from 390.248 million shares valued at RM88.246 million previously. -- Bernama

source http://www.btimes.com.my/articles/20091107113829/Article/