Should speculation of an early general election continue to be in play, the news could help put some excitement in the market and keep Bursa Malaysia on its toes.
STOCKS on Bursa Malaysia are likely to be treading within a moderate band, but on a mild downward bias this week, pending the emergence of a clearer picture in the global scene.
The market is expected to remain edgy on developments in Europe, especially pertaining to the Italian government's bond auction last Monday.
Volatility had also spiked up recently and the consensus was that global equity markets remain vulnerable to a sharp selloff.
Malaysia's third quarter gross domestic product growth that is slated to be unveiled on Friday is not expected to be a major push factor in the market.
However, despite these news, the local market will remain resilient this week and investors are expected to take advantage of the temporary weakness in the local market to ride out potential year-end rally.
Second liners and penny stocks are expected to remain on the good side for the second consecutive week as blue-chip counters paused for a breather.
Analysts said it was clear that market players have shifted their focus on cheaper stocks.
Should speculation of an early general election continue to be in play, the news could help put some excitement in the market and keep Bursa Malaysia on its toes.
However, investors are advised to trade cautiously, as the pullback in this basket of "high risk" stocks would usually be sharper than expected once the music stops. This is simply because most, but not all, are running on empty, and not forgetting the European debt crisis is still shadowing equities.
Major resistance level is pegged at between 1,500 and 1,530 points, while support level for the local benchmark at 1,460 points.
On a Friday-to-Friday, the benchmark FBM KLCI declined 8.76 points to 1,468.75.
Other news that could be positive for the local market this week is Bank Negara Malaysia's decision to maintain the Overnight Policy Rate unchanged at three per cent amid a moderate global growth momentum.
Among stocks that could be in focus this week include Dijaya Corp Bhd, Kimlun Corp Bhd, KPJ Healthcare Bhd and oil and gas-related counters.
Total volume on Bursa Malaysia increased to 9.203 billion shares valued at RM6.049 billion from 8.15 billion shares valued at RM7.22 billion last week.
Bursa Malaysia's main market turnover rose to 6.784 billion shares worth RM5.72 billion, from 5.76 billion shares worth RM6.91 billion previously.
STOCKS on Bursa Malaysia are likely to be treading within a moderate band, but on a mild downward bias this week, pending the emergence of a clearer picture in the global scene.
The market is expected to remain edgy on developments in Europe, especially pertaining to the Italian government's bond auction last Monday.
Volatility had also spiked up recently and the consensus was that global equity markets remain vulnerable to a sharp selloff.
Malaysia's third quarter gross domestic product growth that is slated to be unveiled on Friday is not expected to be a major push factor in the market.
However, despite these news, the local market will remain resilient this week and investors are expected to take advantage of the temporary weakness in the local market to ride out potential year-end rally.
Second liners and penny stocks are expected to remain on the good side for the second consecutive week as blue-chip counters paused for a breather.
Analysts said it was clear that market players have shifted their focus on cheaper stocks.
Should speculation of an early general election continue to be in play, the news could help put some excitement in the market and keep Bursa Malaysia on its toes.
However, investors are advised to trade cautiously, as the pullback in this basket of "high risk" stocks would usually be sharper than expected once the music stops. This is simply because most, but not all, are running on empty, and not forgetting the European debt crisis is still shadowing equities.
Major resistance level is pegged at between 1,500 and 1,530 points, while support level for the local benchmark at 1,460 points.
On a Friday-to-Friday, the benchmark FBM KLCI declined 8.76 points to 1,468.75.
Other news that could be positive for the local market this week is Bank Negara Malaysia's decision to maintain the Overnight Policy Rate unchanged at three per cent amid a moderate global growth momentum.
Among stocks that could be in focus this week include Dijaya Corp Bhd, Kimlun Corp Bhd, KPJ Healthcare Bhd and oil and gas-related counters.
Total volume on Bursa Malaysia increased to 9.203 billion shares valued at RM6.049 billion from 8.15 billion shares valued at RM7.22 billion last week.
Bursa Malaysia's main market turnover rose to 6.784 billion shares worth RM5.72 billion, from 5.76 billion shares worth RM6.91 billion previously.
