Bursa Malaysia: KL Shares Likely To Be Rangebound Next Week
KUALA LUMPUR, May 1 (Bernama) -- Share prices are likely to be rangebound next week as sentiment is expected to be cautious amid lingering concerns over the immediate outlook for the Eurozone area.
Dealers said investors will pay close attention to the development of the financial crisis in Greece as the government aims to secure emergency funds backed by the International Monetary Fund and bilateral loans from eurozone states.
Disturbing news of a cut in debt ratings in Spain and debt downgrades for Portugal has also sparked concerns that the euro-zone area could be financially distressed.
Maybank Investment Bank said the market could be very volatile and risky with little reward and more perils as the Eurozone still remains very risky from a sovereign debt perspective.
TA Securities Senior Technical Analyst Stephen Soo said the market was expected to see further consolidation in the coming weeks.
"There will only be a potential rally in the second-half of the year. The market is looking at fresh leads such as Malaysia's economic numbers and corporate earnings," Soo explained.
During the week, share prices were mostly easier as sentiment remained fragile amid concerns over the debt woes in Greece and Portugal.
However, the local bourse recovered from its losses on Thursday on news that Greece was finalising a bailout plan.
The market ended the week on a high note with the FTSE Bursa Malaysia Kuala Lumpur Composite Index hitting a new high since March 3, 2008.
On a Friday-to-Friday basis, the FBM KLCI advanced 9.6 points to 1,346.38 from 1,336.78 last Friday.
The FBM Emas Index advanced 30.78 points to 9,105.25, the FBM Top100 Index added 39.1 points to 8,844.16 and the Finance Index surged 65.72 points to 12,091.79.
The Industrial Index declined 8.71 points to 2,776.67 while the Plantation Index declined 53.43 points to 6,448.09.
Weekly turnover increased to 4.39 billion shares, worth RM5.71 billion, from last week's 4.14 billion shares worth RM5.85 billion.
Volume on the main market rose to 3.59 billion shares, valued at RM5.506 billion, from 3.34 billion units, valued at RM5.63 billion, last week.
The ACE market volume improved to 424.78 million shares, worth RM86.61 million, from 367.57 million shares, worth RM58.35 million, previously.
The volume of call warrants decreased to 320.18 million units, valued at RM60.51 million from 338.27 million units, valued at RM79.61 million, last week.
-- BERNAMA
Dealers said investors will pay close attention to the development of the financial crisis in Greece as the government aims to secure emergency funds backed by the International Monetary Fund and bilateral loans from eurozone states.
Disturbing news of a cut in debt ratings in Spain and debt downgrades for Portugal has also sparked concerns that the euro-zone area could be financially distressed.
Maybank Investment Bank said the market could be very volatile and risky with little reward and more perils as the Eurozone still remains very risky from a sovereign debt perspective.
TA Securities Senior Technical Analyst Stephen Soo said the market was expected to see further consolidation in the coming weeks.
"There will only be a potential rally in the second-half of the year. The market is looking at fresh leads such as Malaysia's economic numbers and corporate earnings," Soo explained.
During the week, share prices were mostly easier as sentiment remained fragile amid concerns over the debt woes in Greece and Portugal.
However, the local bourse recovered from its losses on Thursday on news that Greece was finalising a bailout plan.
The market ended the week on a high note with the FTSE Bursa Malaysia Kuala Lumpur Composite Index hitting a new high since March 3, 2008.
On a Friday-to-Friday basis, the FBM KLCI advanced 9.6 points to 1,346.38 from 1,336.78 last Friday.
The FBM Emas Index advanced 30.78 points to 9,105.25, the FBM Top100 Index added 39.1 points to 8,844.16 and the Finance Index surged 65.72 points to 12,091.79.
The Industrial Index declined 8.71 points to 2,776.67 while the Plantation Index declined 53.43 points to 6,448.09.
Weekly turnover increased to 4.39 billion shares, worth RM5.71 billion, from last week's 4.14 billion shares worth RM5.85 billion.
Volume on the main market rose to 3.59 billion shares, valued at RM5.506 billion, from 3.34 billion units, valued at RM5.63 billion, last week.
The ACE market volume improved to 424.78 million shares, worth RM86.61 million, from 367.57 million shares, worth RM58.35 million, previously.
The volume of call warrants decreased to 320.18 million units, valued at RM60.51 million from 338.27 million units, valued at RM79.61 million, last week.
-- BERNAMA
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Date: 2010-05-01 21:51:00
Source: Bursa Malaysia: KL Shares Likely To Be Rangebound Next Week
URL: http://bursa88.blogspot.com/2010/05/bursa-malaysia-kl-shares...
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