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Saturday, June 25, 2011

KL shares likely to see rangebound trading (BT)

Bursa Malaysia is likely to see rangebound trading next week due to uncertainty conditions in the global front.

A dealer said with no near term catalysts in sight, the market would continue in lacklustre trade and poised for more weakness.

However, losses could be limited amid portfolio adjustments by fund managers and institutions to prop up their mid-year performance, he added.

He said there could also be buying opportunities especially among the mid-caps and lower liners following their recent corrections.

"Investors could be interested in beaten-down stocks which offer attractive valuations now after the recent correction," the dealer said.

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