Malaysian shares are expected to lose ground due to a lack of fresh leads, analysts said Friday. TA Securities head of research Kaladher Govindan said the bourse could experience window dressing led by local funds early in the week. "I think they will push up the bourse for window-dressing. It will then move sideways before coming down," he told AFP.
TA Securities said in a statement that retailers should watch out and lean towards taking profits or sell on rally construction and steel related stocks. It said investors could buy stocks such as Axiata, Gamuda and TM "as we believe there is more upside to this rally than meets the eye."
For the week to June 26, the Kuala Lumpur Composite Index gained 16.27 points or 1.54 percent to 1,075.77. The key index is tipped to trade between 1,068-1,095 points, a dealer told Dow Jones Newswires.