Malaysian shares were likely to fluctuate due to a lack of fresh leads and profit-taking, analysts said Friday. "I expect the bourse to test the 900 points level in the first few days of trading.
But we will see some correction as the bourse will come under selling pressure later in the week," Kaladher Govindan, head of research with brokerage TA Securities told AFP.
Kaladher said trading volume was expected to remain thin as the bourse is closedd Monday for a public holiday "Domestic political uncertainties will put pressure on the bourse," he said, in reference to the take-over of the opposition controlled Perak state by the ruling National Front coalition.
The Barisan Nasional coalition, which has dominated Malaysian politics for half a century, says it has the numbers to control the state assembly and swore in its the new chief minister late Friday.
Kaladher said he expected profit-taking towards the end of the week. For the week to February 6, the Kuala Lumpur Composite Index rose 12.19 points or 1.4 percent to 896.64 points.
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