MALAYSIAN shares are seen rangebound today after US stocks fell overnight amid concerns that the Federal Reserve’s latest efforts to stem the US recession were too costly and untested.
Dealers said a lack of domestic corporate news inflow, as well as a weakening Malaysian economy, were also likely to keep the index in a narrow band.
“There is no trigger in the market and the turnover is also pretty thin,” said a local bank dealer.
“The index would move in a narrow band for now and will track the other markets in the region.”
The main index yesterday gained 0.5 per cent to 852.18 points, its highest level in more than a week. - Reuters