Malaysian shares to see volatile trade

Malaysian share prices are expected to continue volatile trade in the week ahead as investors remain jittery after global markets suffered a sharp correction over fears of a US credit crisis, dealers said.
A fund manager from a bank-backed asset management firm said the current volatile trading environment would likely remain for the short-term. However, he said Malaysia is still one of the best markets to be in despite the current uncertain times as economic growth here is expected to be strong driven by domestic factors.
"The local market will move north again after this short-term volatility," the fund manager said on condition of anonymity. For the week to August 3, the Kuala Lumpur composite index fell 19.96 points or 1.5 percent to 1,335.42.
Average daily volume declined to 1.73 billion shares worth 2.67 billion ringgit (770.5 million dollars) from 1.90 billion shares worth 3.12 billion ringgit the previous week.