Malaysian shares to edge upwards: analyst

Malaysian share prices next week are expected to rise after surging on the back of a possible rate cut by the US Federal Reserve, an analyst said Friday. "The bourse could see some upside movement in the week ahead of Federal Reserves meeting ... to decide their interest rate," said Michael Lai, a fund manager at Fortress Capital Asset Management.
Lai said the Federal Reserve may cut borrowing costs. "The Fed may undertake another rate cut next week," he said. For the week to November 30, the local bourse gained 43.43 points or 3.2 percent to close at 1,396.98. Average daily volume was 906 million shares worth 1.53 billion ringgit (438 million dollars) compared to 918 million shares worth 1.42 billion ringgit last week.