Malaysian share prices are expected to rise if the US market remains stable, a dealer said on Friday. "We expect the buying momentum to continue. We can see an upside next week, provided the Dow Jones index remains stable," Stephan Soo, technical analyst with local brokerage TA Securities told AFP.
Soo said developments in the domestic political situation could also influence movements on the bourse, particularly amid rising uncertainty with Malaysia's coalition government facing two by-elections in April. The Barisan Nasional coalition, which has dominated Malaysian politics for half a century, wrested control of Perak state and swore in its new chief minister after the opposition alliance was hit by four defections.
The opposition Friday said the by-elections would effectively be a "referendum" on Deputy Prime Minister Najib Razak's leadership. One election will take place in Perak state for a seat in the national parliament and the other for the state assembly in Kedah.
Soo said the bourse could climb to 920 points while another dealer said it could trade within the 900 to 936 point ranges. For the four-day trading week to February 13, the Kuala Lumpur Composite Index rose 13.2 points or 1.5 percent to 909.84 points.
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