MALAYSIAN shares are likely to trade sideways today as investors stay cautious on the earnings season, which has largely been within expectations, gets under way and Wall Street’s lower close last week.
“The earnings season has been nothing to shout about so far and there are really no fresh leads at this point,” said an analyst with a local investment bank.
He said the market may trade between 980 and 1000 points with some focus on Malaysia Airlines, mobile phone services operator Axiata and its parent Telekom Malaysia that are expected to report earnings this week.
US stocks stumbled on Friday as energy shares dropped along with oil prices on worries about weak demand, overshadowing fresh reassuring economic data. - Reuters
Monday, May 18, 2009
Malaysian shares may trade sideways
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