February 12, 2012 by staff
Bursa Malaysia, Share prices are expected to rise towards the 1,600 points level next week on Bursa Malaysia boosted by strong local and better-than-expected global economic data.
Dr Nazri Khan, head of retail research, Affin Investment Bank, said the positive sentiment would also be driven by continuous optimism over Greece’s new agreement on austerity reforms, strong funds inflow on prospects of added liquidity from major central banks and rising global equity market.
“We believe the long awaited news that Greek politicians had reached a deal on austerity measures, may pave the way for the country to receive a second bail-out and avoid a disorderly default on its debt.
“In addition, we anticipate the global markets to be further supported from easy interest rate policy decisions announced by European central banks and the Bank Of England last week,” he told Bernama today.
Nazri also said the outperformance shown by emerging markets would also be an added boost to local shares over the near-term.
“Going forward, we expect the local market to extend its gains following the strong bullish breakout last week, boosted by gains in selected blue chips and strong rotational plays in lower liners,” he added.
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