KL mart to fall on healthy correction (BT)

Malaysian shares are likely to continue under pressure today as investors take profits from the market’s sharp rise ahead of the weekend and after Wall Street’s weaker close overnight.
“Confidence has returned, there’s no doubt about it but for the market’s run to be meaningful, it has to correct. That’s healthy,” said an institutional dealer at a local investment bank.
Volume traded on the local bourse has risen steadily this week, indicating well-rounded participation from both institutional and retail investors, she said.
Wall Street stocks slid yesterday as investors took profits from the technology sector’s recent surge, while analyst downgrades hurt telecoms and a tepid response to a government bond auction raised fears about public finances.

The Dow Jones industrial average dropped 102.43 points, or 1.2 per cent, to 8,409.85. The Standard & Poor’s 500 Index slid 12.14 points, or 1.32 per cent, to 907.39. The Nasdaq Composite Index fell 42.86 points, or 2.44 per cent, to 1,716.24. - Reuters