Malaysian shares likely to trend higher this week

KUALA LUMPUR: SHARE prices on Bursa Malaysia
are likely to trend higher this week following positive leads from the
US market, coupled with impressive recovery from the Greek financial
markets, Affin Investment Bank vice-president, head of retail research Dr Nazri Khan said.
Apart
from that, he said, news that major central banks were preparing
coordinated financial stimulus would also lend support to the bourses
globally.
He said the fact that global equities, including the
local bourse had been holding well despite negative leads, suggested
the local market's resilience.
“We reckon the Group of 20
central banks' decision to provide standby stimulus on any adverse
Greece election results and the possibility of further liquidity
measures from the Federal Reserve are likely to boost market confidence
in the near term,” he told Bernama.
Nazri said the
biggest bullish driver this week would definitely be the Greek stock
market which has rocketed sharply, reflecting investor confidence on
positive outcome from the Greece national elections.
On the local front, he said, the coming initial public offering of Integrated Healthcare Holdings and Astro Bhd should provide catalysts. The local bourse saw see-saw trading for the whole week with the FTSE Bursa Malaysia KLCI (FBM KLCI) moved between closing level of 1,570.94 and 1,579.23.
On a Friday-to-Friday basis, the FTSE Bursa Malaysia KLCI increased 8.61 points to 1,579.23 compared with previous Friday's closing of 1,570.62.
The
Finance Index rose 56.32 points to 14,124.53 but the Industrial Index
declined 35.22 points to 2,744.05 while the Plantation Index jumped
112.85 points to 8,413.51.
The weekly volume rose to 3.768 billion shares worth RM7.207bil from previous week's 3.372 billion shares valued at RM5.642bil.
The
main market turnover increased to 2.778 billion units worth RM7.046bil
compared with 2.342 billion shares valued at RM5.472bil previously.
Bernama