Malaysian shares may depict moderate trend

Malaysian shares are set to moderate as gains in the past few weeks are expected to be clipped by profit-taking, analysts said on Friday. "Given the overbought technical situation this week, we are expecting the market to moderate next week with more of the overbought momentum neutralised through profit-taking," Stephen Soo, an analyst with TA Securities, told AFP.
"It looks to be a week of consolidation as the market cools off, unless positive sentiment from external markets pushes the market," he added. Soo said the market is expected to trade in the 983-1,027 range next week. For the week to May 8, the Kuala Lumpur Composite Index closed at 1,014.21, down 12.57 points or 1.22 percent from the previous week.