KUALA LUMPUR: THE benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) will eye the 1,600 level this week, surpassing the all-time high of 1,597 recorded in July last year.

Head of Retail Research, Affin Investment Bank, Dr Nazri Khan said the better global sentiment and an improved eurozone credit market, will provide an upside momentum to share prices on Bursa Malaysia.

He said despite the rising oil prices and a dovish, “no-stimulus” statement by US Federal Reserve chairman Ben Bernanke, global equities including the FBM KLCI are likely to price in a more upside momentum on improved sentiment, the European Central Bank's huge liquidity injection, strong US jobs data, positive China manufacturing data and better credit market in the eurozone.

“The improvement in the broader market sentiment can be seen from the global risky assets performance which has gained momentum while safe-haven assets continue to wind down,” he told Bernama.

Nazri said the biggest near-term catalyst will be the European Central Bank's 530bil liquidity boost, which is the first round of the bigger one trillion euros financial bazooka to avert a credit crunch, dubbed as a long-term refinancing operation (LTRO).

Last Friday, the local bourse rallied amid the broader, stronger market momentum in regional equities.

On a Friday-to-Friday basis, the FBM KLCI earned 25.01 points to 1,583.78 from 1,558.77 previous Friday.

The Finance Index increased 268.24 points to 14,129.75 from 13,861.51 previously. The Plantation Index increased 47.22 points to 8,678.21 from 8,630.99. The Industrial Index advanced 61.07 points to 2,926.77 from 2,865.70 last Friday. The FBM Emas increased 153.79 points to 10,946.89 from 10,793.10 previously.

Weekly volume decreased to 8.560 billion shares worth RM9.87bil from 9.635 billion shares worth RM9.345bil previously. Turnover on the main market decreased to 5.601 billion shares valued at RM9.394bil from 6.055 billion units valued at RM8.741bil previously. Bernama

• 
• 
• 

More News Business Headlines      Ringgit falls to 1-yr low at 3.2010 versus US dollar      Malaysia's KLCI falls nearly 10 points in early trade      US stocks down after Bernanke hints at slowing stimulus      Malaysian equities to face selling pressure on Thursday      Public Invest Research: TSH Resources becoming big cap plantation company      CIMB Research ups MY EG target price to RM1.74      Assore - Assmang approves ferromanganese joint venture in Malaysia      Malaysia-Market factors to watch on June 20(Thursday)      Kulim to take New Britain Palm Oil Ltd private?      Nusa Gapurna rejects PKNS offer to up stake in PJ Sentral      AirAsia wants no further delays in opening of new low-cost terminal KLIA2      AirAsia signs RM27.5bil engine deal      AirAsia X shares worth up to RM1.66 each      Use of psychometrics assessment for employees can be controversial      Low bids for Hwang-DBS due to the banking group’s poor Q3 results      Reality check on Asean Economic Community, is it rather ambitious?      Sumatec shareholders to vote on Kazakhstan oil and gas asset buy      Genting’s Aussie move a surprise      3 parties said to be in talks to take over Luster      MISC to consolidate ops, re-balance portfolio and income mix      Malaysian market closes lower      Pos Malaysia proposes 9.5 sen final dividend      Stability boost for UEM Sunrise project in Iskandar      IGB buys into Johor-based property developer      Tambun Indah plans RM200mil capex to expand landbank      MAS to beef up ties with six code share partners      Consumer Price Index up 1.6% in May      CEO: MBSB not in hurry to get banking licence      Banks urged to implement Basel III within proper context      Tune Ins sees healthy growth in earnings      Etiqa sees good family takaful growth      Integrax may gain if TNB wins      Petronas Dagangan eyes airports      MARC assigns AA+IS rating to Kapar Energy      Eversendai tendering for RM8bil projects      Asian businesses optimistic, sentiment index highest in five quarters      GM revs up plans for Cadillac in China luxury market      Robinsons plans up to US$924mil Philippine IPO      Send reckless bankers to jail, say UK lawmakers      Finnish economy set to shrink on weaker exports      Asia Business Sentiment Survey - by economy      New book-keeping rule to priprizese open insurers' 'black box' accounts      Microsoft reverses position on Xbox One Internet, game sharing      Bernanke says Fed likely to reduce bond buying this year      Microsoft talked with Nokia about buying devices unit      Bernanke says Fed likely to reduce bond buying this year      Japan's conservative values collide with plan to mobilise women for economy      Britain to start sale of Lloyds soon, review RBS split      Bernanke says Fed likely to reduce bond buying this year  Go

• Penang freak storm: Only part of Jalan Macalister is open to traffic; CM annoyed
• Hong Kong national involved in a train-car accident in Kota Kinabalu dies
• Chieftains handing out dubious titles
• Titles with no standing draw renewed attention
• Nightmare over topless pictures
• ‘Body buried 13 storeys deep’
• Pakatan MPs to attend swearing-in
• Striptease queen married five times in search of true love, says author
• ‘Divine empowerment’ for Muslim women
• Kuala Dimensi chief fails to set aside subpoena served by Ling’s lawyers
• Sabah CM slams assemblymen over poverty eradication efforts
• Dept set to fight peat fires
• ‘Don’t go out to Straits of Malacca at night’
• DOE declares three states as ‘no open burning’ zones
• East coast hit by the haze, too

• Assange says WikiLeaks assisting Snowden asylum bid
• Kim Dotcom slams Megaupload 'data massacre'
• Study: Jordan teens still 'honour killings' justified

• Paul Revington is glad to be back to train the Malaysian team
• Heavy task on Faizal’s shoulders
• Singapore Open: Chong Wei Feng fights to survive
• Rachel owes her rich vein of form to change in technique
• Future looks gloomy for men’s squash when Beng Hee calls it a day
• Gavin Green confident he can take on title-holders this weekend
• Zhang switches focus on developing golf in China
• Thaworn hopes to find his ‘A’ game in Selangor Masters
• Khairy: RM8mil to be forked out for Sukma due to lack of sponsorship
• A chance for local cyclists to shine
• Rahul survives weekend of harsh hurdles in Norfolk
• MGF set wheels in motion to unearth young talents
• Steady as Jie goes
• Ferrer loses title after opening round loss
• Heat edge Spurs in overtime to force Game 7 in NBA Finals

• Please wait.

• Use of psychometrics assessment for employees can be controversial
• AirAsia X shares worth up to RM1.66 each
• Sumatec shareholders to vote on Kazakhstan oil and gas asset buy
• 3 parties said to be in talks to take over Luster
• Public Invest Research: TSH Resources becoming big cap plantation company
• Assore - Assmang approves ferromanganese joint venture in Malaysia
• MISC to consolidate ops, re-balance portfolio and income mix
• MAS to beef up ties with six code share partners
• CEO: MBSB not in hurry to get banking licence
• Ringgit falls to 1-yr low at 3.2010 versus US dollar

Copyright © 1995-2013 Star Publications (M) Bhd (Co No 10894-D) - Investor Relations