KL shares seen higher next week
Malaysian shares are likely to be higher next week as the coming Chinese New Year celebrations will provide a catalyst to the market, dealers said.
However, cautious sentiment will still prevail with interest confined to lower liners, said OSK Research head Chris Eng.
Analysts said that concern over the pace of global economic recovery due to a string of bearish economic data will continue to haunt investors.
They said the rising unemployment data in the United States and rising sovereign debt woes in Europe prompted investors to shun riskier investments.
"As for Malaysia, sentiment will also be cautious in the midst of the former deputy prime minister Datuk Seri Anwar Ibrahim sodomy trial. Besides that, political developments will also be closely watched," said an analyst from a local stockbroking company.
During the week, Bursa shares kicked off at the beginning of the week on a high note as gains on Wall Street and positive US economic news helped to lift market sentiment.
However, the shares drifted lower on Thursday after two days of gain as weaknesses on Wall Street and regional bourses weighed down sentiment.
Global concern that the pace of global economic recovery could be derailed following an unexpected slowdown in Australia's retail sales and the high level of unemployment rate in New Zealand also rattled market sentiment.
On Friday, share prices on Bursa Malaysia ended the week lower with the key barometer falling to its lowest point since Nov 4 last year, dragged down by losses in heavyweights with sentiment affected by sharp losses on Wall Street and regional bourses.
For the week just ended, the FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) dropped 11.2 points to 1,247.9 from 1,259.16 last Friday.
This week, the Finance Index lost 136.06 points to 10,942.73 from 11,078.79 last Friday.
The Plantation Index fell 39.08 points to 6,149.05 from 6,188.13 last Friday while the Industrial Index was 10.36 points lower at 2,575.68 compared to 2,586.04 last Friday.
The FBM Emas Index went down 78.47 points to 8,405.53 from 8,484 last Friday.
The FBM Top 100 declined 76.01 points to 8,173.31 from 8,249.32 last Friday while the FBM ACE Index lost 67.2 points to 4,314.63 from 4,381.83 previously.
Total turnover dropped 3.332 billion shares worth RM4.99 billion from 5.23 billion shares worth RM7.66 billion last week.
Volume on the Main Market declined to 2.781 billion shares worth RM4.896 billion from 4.14 billion shares valued at RM7.5 billion last week.
Call warrants volume went down to 137.595 million units worth RM22.408 million from 193.12 million units worth RM37.04 million last week.
The ACE Market volume fell to 336.747 million shares worth RM49.165 million from 558.8 million shares valued at RM93.18 million last week. -- Bernama
However, cautious sentiment will still prevail with interest confined to lower liners, said OSK Research head Chris Eng.
Analysts said that concern over the pace of global economic recovery due to a string of bearish economic data will continue to haunt investors. They said the rising unemployment data in the United States and rising sovereign debt woes in Europe prompted investors to shun riskier investments.
"As for Malaysia, sentiment will also be cautious in the midst of the former deputy prime minister Datuk Seri Anwar Ibrahim sodomy trial. Besides that, political developments will also be closely watched," said an analyst from a local stockbroking company.
During the week, Bursa shares kicked off at the beginning of the week on a high note as gains on Wall Street and positive US economic news helped to lift market sentiment.
However, the shares drifted lower on Thursday after two days of gain as weaknesses on Wall Street and regional bourses weighed down sentiment.
Global concern that the pace of global economic recovery could be derailed following an unexpected slowdown in Australia's retail sales and the high level of unemployment rate in New Zealand also rattled market sentiment.
On Friday, share prices on Bursa Malaysia ended the week lower with the key barometer falling to its lowest point since Nov 4 last year, dragged down by losses in heavyweights with sentiment affected by sharp losses on Wall Street and regional bourses.
For the week just ended, the FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) dropped 11.2 points to 1,247.9 from 1,259.16 last Friday.
This week, the Finance Index lost 136.06 points to 10,942.73 from 11,078.79 last Friday.
The Plantation Index fell 39.08 points to 6,149.05 from 6,188.13 last Friday while the Industrial Index was 10.36 points lower at 2,575.68 compared to 2,586.04 last Friday.
The FBM Emas Index went down 78.47 points to 8,405.53 from 8,484 last Friday.
The FBM Top 100 declined 76.01 points to 8,173.31 from 8,249.32 last Friday while the FBM ACE Index lost 67.2 points to 4,314.63 from 4,381.83 previously.
Total turnover dropped 3.332 billion shares worth RM4.99 billion from 5.23 billion shares worth RM7.66 billion last week.
Volume on the Main Market declined to 2.781 billion shares worth RM4.896 billion from 4.14 billion shares valued at RM7.5 billion last week.
Call warrants volume went down to 137.595 million units worth RM22.408 million from 193.12 million units worth RM37.04 million last week.
The ACE Market volume fell to 336.747 million shares worth RM49.165 million from 558.8 million shares valued at RM93.18 million last week. -- Bernama
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