Published: 2009/06/19
Malaysian shares are expected to rebound next week after a stretch of losses this week, analysts said Friday. “Further sharp losses however should trigger a rebound given the already oversold technical conditions,” local brokerage TA Securities said in a commentary.
For the week to June 19, the Kuala Lumpur Composite Index lost 30.65 points or 2.81 per cent to 1,059.50. TA Securities said the improved sentiment on Wall Street will also help the local market. “The overnight rebound on US stocks after a three-day losing streak on improving jobless claims and manufacturing numbers, which suggested the recession may be nearing a bottom, should encourage a rebound in the region and locally,” it said.
Alliance Research also expected the key index to rebound next week and trade between 1,050 and 1,063 points. - AFP
About Me
- Nuang
- Ibrahim bin Ramli@Nuang started his career with CIMB Wealth Advisors Berhad as Agency Manager in April, 2008.Previously he was an Internal Auditors and Accounts Executive with Perodua Sales Sdn Bhd since 17 August, 1994. His background:- 1.Certified of Achievement for Master Sales Leadership from Dr Lawrence Walter Ng of President of The Art Of Learning and International Of Learning Without Learning 2.Certified for eXtra Ordinary Performance of Lawrence Walter Award Certificate for One Million Ringgit Club 2007 3. Certified Life & General insurances 4. Conferred with Diploma in Business Studiess & Bachelor of Business Admin(Hons)Finance from UiTM, Terengganu Branch & Shah Alam respectively;
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