Malaysian share prices are expected to trade higher in the week ahead on improved sentiment despite the possibility of volatile movements, analysts said Friday. "Although the market may still be volatile, the firm underlying sentiment is expected to support the bullish trend," said Danny Oh, a senior analyst with Mercury Securities.
He said market sentiment has improved, with most investors keeping an eye on the benchmark composite index as it tests the previous high of 1,285 points. "We believe (investors) are mainly rooting for a breakout as the market has been resilient and able to maintain its uptrend despite the occasional hiccups," Oh said.
For the week ending April 6, the Kuala Lumpur composite index gained 32.05 points or 2.57 percent to 1,278.92. Average daily volume for the week was 1.88 billion shares, valued at 2.23 billion ringgit (646.4 million dollars), down from 2.44 billion shares worth 2.51 billion ringgit the previous week.
Comments
Comments are closed.