Malaysian share prices are expected to edge upwards with foreign investors eyeing regional bourses for better returns amid concerns about the US economy, dealers said Friday. "As US markets are going no where, funds are flowing into Asian markets to look for better returns," said Pong Teng Siew, the head of research of MIMB Investment Bank.
"Asian markets are benefiting from the protracted effects of the subprime problems on the US economy. The markets will do well next week," he added. For the week to October 26, the local bourse gained 28.18 points or 2.1 percent to close at 1,398.35.
Average daily volume rose to 1.64 billion shares worth 1.81 billion ringgit (509 million dollars) from 1.59 billion shares valued at 2.0 billion ringgit a week earlier.
Dealers said investors may pick-up property and oil and gas related stocks as Malaysia will launch a 33 billion dollar master-plan to develop Malaysia's eastern region on Monday.
Comments
Comments are closed.