Malaysian share prices next week are expected to trade sideways with a downward bias, dealers said on Friday. They fell 2.38 percent this week, they said, although they rose 0.7 percent Friday.
"The market gains today (Friday) were mainly due to the latest corporate results which are quite decent as well as our ecoonomic fundamentals remaining strong," said Terence Wong, head of research at CIMB Investment Bank.
Late bargain hunting in select index heavyweights gave the market the momentum to finish higher despite thin volumes and a generally cautious mood. For the week to November 23, the local bourse lost 33.09 points or 2.38 percent to close at 1,353.55. Average daily volume was 918 million shares worth 1.42 billion ringgit, (423 million dollars) compared to 1.18 billion shares valued at 1.76 billion ringgit a week earlier.
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