Malaysian share prices are expected to remain subdued amid political uncertainty, a dealer said on Friday. "We expect investors to pull back on Monday. Trading will be dull and volume expected to be thin," Stephen Soo, technical analyst with TA Securities, told AFP.
Soo said an August 26 by-election to be contested by opposition figurehead Anwar Ibrahim was pushing investors to the sidelines. "Investors are cautious as Anwar was likely to win," he said, adding that the political uncertainty that would follow was making investors take a cautious stance.
Soo said the rally on the bourse on Friday would not continue next week, adding that the immediate resistance was at 1,088 points.
For the week to August 22, the composite index fell 9.45 points or 0.9 percent to 1,085.60. Daily average volume was at 330.19 million shares valued at 672.63 (201 million dollars) compared to 326 million shares worth 733.5 million ringgit last week.