Malaysian shares tipped to gain next week

Malaysian share prices are expected to make gains next week amid strong market sentiment in the US and China, analysts said yesterday.

“If China and Hong Kong do not correct further, based on the positive economic signals from the US, Malaysian stocks look to gain next week,” said Stephen Soo, a technical analyst with local brokerage TA Securities.

“Earlier this week, we saw a correction in (the) local market as a result of dips in the US but it was holding steady by midweek following better economic numbers from China,” he added.

“A concern now is the low trading volume which really needs to increase in order to stabilise the market and to see a greater basis for positive sentiment.”

He tipped the key index to trade in a range of 1,156-1,196 points.

For the week to September 4, the Kuala Lumpur Composite Index lost 15.0 points, or 1.29 per cent, to close at 1,178.74. -- AFP