Malaysian shares likely to remain gloomy

Malaysian shares are expected to extend their gloom next week on the highly volatile external financial markets brought on by uncertainties in the US economy, analysts said on Friday.
"The near-term market outlook remains clouded by uncertainty over the extent of damage to global economic growth," said analysts in a research note by local brokerage TA Securities. It said a "worsening economic outlook" in the US will further depress sentiment in the region, which will pull the local market down. The trading pace will also likely be slow next week as most investors extended their holidays, following the Muslim Eid al-Fitr celebrations.