KUALA LUMPUR: Bursa Malaysia is anticipated to stage a rebound next week, buoyed by continuous support from foreign funds and improved market sentiments, according to analysts.

Apex Securities Bhd head of research Kenneth Leong expects the 1,600 level to be in focus as the key index looks to defend the aforementioned level.

He said any further weakness will be cushioned by the return of foreign fund inflows. The lower liners are also taking a breather following the recent run-up.

"For the week ahead, investors will be keeping a close watch on the United States Federal Reserve chairman Jerome Powell's testimony to gather clues over the timing of potential rate cuts, and Bank Negara Malaysia's (BNM) interest rate decision.

"We expect BNM to keep rates unchanged for the time being, particularly if there have not been any significant economic changes recently," he told Bernama.

Meanwhile, Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng expects buying should resume next week despite a shorter trading week.

"We expect the FBM KLCI to hover within the 1,610-1,630 range next week," he said.

On a Friday-to-Friday basis, FBM KLCI rose 20.93 points to 1,611.02 from last week's 1,590.09.

During the week, the market was mostly firmer in line with the improving performance of regional peers.

On the index board, the FBM Emas Index surged 228.59 points to 12,444.99, the FBMT 100 Index jumped 214.82 points to 12,012.88, the FBM Emas Shariah Index strengthened by 254.18 points to 12,806.88, the FBM 70 Index notched up 543.60 points to 18,385.49, and the FBM ACE Index improved 193.03 points to 5,966.31.

Sector-wise, the Energy Index rose 31.33 points to 986.75, the Industrial Products and Services Index added 4.07 points to 199.92, the Plantation Index expanded 22.92 points to 7,005.64 and the Financial Services Index put on 148.71 points to 17,603.44.

For the week just ended, turnover increased to 23.79 billion units valued at RM17.49 billion against 23.5 billion units valued at RM16.91 in the preceding week.

Main Market volume grew to 13.10 billion shares worth RM14.49 billion from 12.71 billion shares worth RM14.66 billion a week ago.

Warrants turnover slipped to 4.86 billion units valued at RM693.98 million versus 6.36 billion units valued at RM805.4 million last week.

The ACE Market volume expanded to 5.82 billion shares worth RM2.29 billion compared with 4.39 billion shares worth RM1.45 billion previously.