Australia's share market is likely to remain turbulent in the short term after another volatile week of trading but could be close to bottoming out, dealers said Friday. For the week ending September 19, the benchmark SP/ASX200 closed down 98.3 points or 2.0 percent at 4,805.5.
The end of the week saw shares on a roller-coaster ride, down 2.4 percent on Thursday and bouncing back 4.3 percent on Friday. "Share markets are likely to remain turbulent in the short term," said Shane Oliver, head of investment strategy and chief economist at AMP Capital Investors.
"Further difficulties amongst banks and other financials are possible and the latest intensification of the credit crunch will lead to a further deterioration in the economic and profit outlook. "However, while the next month or so may be messy, there is a good chance that we have actually seen the bottom in shares or if not we have come very close.
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