Taiwan share prices are expected to suffer a downturn next week as investors pocket profits made this week, dealers said Friday. After local elections are held at the weekend, the market may test 7,500 points during the week and even fall below that level, as the government has not taken steps to bolster the market in order to woo voters, they said. Looking beyond Taiwan's borders investors will closely monitor monthly US job data to get a sense of the global climate, they added. Despite weak sentiment, the market may stage a rebound at 7,500 points, but is expected to see a cap at 7,800 points next week, dealers said. For the week to December 4, the weighted index rose 160.00 points or 2.14 percent to 7,650.91 after a 2.50 percent fall a week earlier. Average daily turnover stood at 115.48 billion Taiwan dollars (3.59 billion US dollars), compared with 120.85 billion dollars a week ago. 'Turnover fell despite gains in share prices this week, indicating a cautious mood over the short-term prospects,' TLG Asset Management analyst Arch Shih said. Shih said selling may focus on financial heavyweights, now featuring high valuations after buying was encouraged by acquisition speculations. Taiwanese media have reported Cathay Financial Holdings had been in talks with Industrial and Commercial Bank of China, a mainland lender, to sell a 20 percent stake. 