Malaysian share prices are expected to remain in rangebound trading in the week ahead in the absence of fresh leads, dealers said. "The stale conditions will keep most investors on the sideline longer and with limit participation, there is little room for considerable upsides in the near term," said Victor Wan, a senior analyst at Mercury Securities.
He predicts the rangebound trend to persist with the key index enveloped between its current range of between 920 and 931 points.
He attributed this to the lack of selling pressure, with most market players "becoming increasingly uncertain over the market's next course." However, he added that the downside risk is also limited due to little selling pressure.
For the week ending October 14, the composite index rose 0.38 points or 0.04 percent to 925.59.
Average daily volume was 380.156 million shares valued at 563.836 million ringgit (150 million dollars) compared to 413.21 million shares valued at 628.83 million ringgit in the previous week. At the close on Friday, the ringgit was traded at 3.7738 to the dollar and 4.5415 to the euro.
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