Malaysian shares likely to trade lower

Malaysian share prices are expected to trade lower in the coming week as it undergoes a consolidation phase, analysts said. "Share prices are poised to undergo further correction" due to a lack of "stimulating leads," said Danny Oh, senior analyst at Mercury Securities.
"Despite the precarious sentiment, all is not lost as this could be just the opportunity for investors to bargain hunt on selected blue chips that are market leaders in their respective businesses," he said.
For the week ended June 1, the Kuala Lumpur composite index gained 20.99 points or 1.6 percent to 1,360.07. Average daily volume declined to 804.48 million shares with a value of 1.75 billion ringgit (514.7 million dollars) from 996.72 million shares worth 1.98 billion ringgit a week earlier.