Malaysian shares will likely post modest gains as bargain-hunters scout out discounted shares, analysts said. "Some bargain hunting can be seen," Phua Kwee Hock, an analyst with SJ Securities, told AFP.
Analysts said investors may pick aviation, construction and auto stocks whose share prices had fallen. Phua said trading would range between 1,100 to 1,126 points, adding that "since our bourse had been down for some time, we could see some bargain hunting."
Phua attributed thin volumes to continue "political uncertainty" in the country as critics continued to press Prime Minister Abdullah Ahmad Badawi to quit. For the week to July 18, the benchmark composite index fell 45.35 points or 3.9 percent to 1,105.04. Daily average volume was lower at 289.50 million shares valued at 513 million ringgit (159 million dollars) from 377 million shares worth 888 million ringgit a week earlier.