The stock market will be closed on Feb 1 for the Federal Territory Day and for the Chinese New Year celebrations on Feb 3 and Feb 4. The local bourse will only trade for two days next week.
Affin Investment Bank Head of Retail Research Dr Nazri Khan said the market would continue to consolidate as investors off-load their positions due to next week's holiday-shortened trading week.
He said rumours of impending fiscal tightening by the central bank, using creative measures or non-traditonal measures such as properties, margin and reserve requirement, is expected to exert slight pressure on local market sentiment.
External factors which would continue to weigh on market sentiment next week would include rising inflationary pressure following the hike in oil and commodity prices.
"Further fiscal tightening is expected in China and India to address a property bubble and this is anticipated to impact local sentiment as both nations are Malaysia's big trading partners," Nazri told Bernama.
However, he said the undertone of the market was still intact.
For the week-just ended, sentiment remained bearish as profit-taking in heavyweight counters, despite a mild rebound on Thursday, dragged prices lower.
Read more: KL bourse set to consolidate further
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