Malaysian share prices are expected to trade cautiously in the week ahead, in line with the regional markets, as stocks consolidate and investors remain sidelined, dealers said Friday.
The market started on a positive note during the week after the government announced a corporate tax cut in the 2007 budget but positive news was sidelined by concerns over softening in the US and global markets, they said.
For the week ending September 8, the Kuala Lumpur Composite Index shed 3.99 points or 0.42 percent to close at 956.70 on Friday.
Average trading volume was 388.4 million shares worth 693.41 million ringgit (189 million dollars) after 398 million shares worth 733.86 million ringgit shares the previous week.
"Trading is expected to turn more cautious with (the majors) entering a consolidation phase," said Victor Wan, a senior analyst with Mercury Securities.
"Investors are worried that the US (Federal Reserve) rate hike (policy) may not be over as new (US) data showed that inflation is still a concern," he said.