'The market is still weighed down a lot because of the political concerns, and for the time being, we would be driven by what what happens on the political front over the next two weeks,' said a dealer at a local brokerage house.
Malaysia's key Composite Index has lost about 26 percent so far this year as foreign investors shunned Malaysian assets after a March 8 general election significantly changed the country's political landscape.
Anwar Ibrahim, a former deputy premier and now the opposition leader, has said he plans to force out the government of Prime Minister Abdullah Ahmad Badawi this month by winning over government defectors from the ruling coalition.
'The volumes have been very thin in recent weeks and the premium that our markets used to have due to political stability is no more there,' said another dealer.
Dealers said oil and gas, as well as gaming stocks were likely to be the main attraction.
Builder IJM Corp was also expected to gain after its offered to buy out other shareholders in subsidiary Industrial Concrete Products
IJM is offering to acquire the 36.6 percent of ICP it does not already own by paying 0.26 ringgit in cash and issuing 0.60 new ordinary shares in IJM shares for every ICP share.
U.S. stock indexes soared after the U.S. government takeover of Fannie and Freddie, the latest move to shore up the slumping housing market, was taken to ward off more global financial market turbulence.
Here are news stories and factors that may affect the Malaysian stock market on Monday.
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