Malaysian stocks are expected to trade downwards next week due to the global financial crisis which has forced bourses across the world to plummet, analysts said Friday.
Stephen Soo, analyst at local brokerage TA Securities, told AFP that trading on the local bourse would be volatile, adding that investors would watch the outcome of the G7 meeting closely.
Soo said the bourse would trade within the 980-920 points' range. "If there is any rally next week, it will be more of a bear market rally," he said. For the trading week ended October 10, the composite index dropped 82.69 points or 8.1 percent to 934.01 Daily average volume was 621.4 million shares worth 1.32 billion ringgit (377 million dollars) compared with 324.5 million shares worth 673 million ringgit a week ago.