Malaysian market to be choppy and volatile this week

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According to market analysts, the Malaysian stock market is forecasted to be quite volatile in the course of the coming week. This is most likely due to the debt crisis currently hitting the European market while the recent negative rating of the US economy by Standard and Poor’s will also be a major factor.

After all, the FBM KLCI has been very jittery throughout last week which pretty much was the case of most Asian bourses after news that a possible financial crisis is looming. The FMB-KLCI dipped below 1,500 for the first time since mid-March this year following a huge sell-off throughout last week. 

Furthermore, the recent announcement of the so-called swap deal between national and budget carrier Malaysian airlines and AirAsia too changed the sentiments of investors, particularly in the airline sector. Bursa Malaysia closed at 1 1,483.67 dropping 40.76 points from 1,524.43 the Friday before that.

Trading of shares and value on most markets increased but most was through selling than buying as investors are taking precautionary steps in light of the current situation. The coming week will see the trend continuing as there would not be any major boost of confidence anytime soon. Hence, one can expect yet another choppy week ahead and the market would be most likely volatile throughout.

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