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Monday, December 1, 2014

FBM KLCI - likely to further consolidate


Stocks on Bursa Malaysia ended broadly lower for the second consecutive day on last Friday, dragged down by oil and gas-related heavyweights. The weak performance of the local bourse was influenced by the Organization of Petroleum Exporting Countries (OPEC) meeting on Thursday, which decided not to cut production, and hence, causing further plunge in Brent crude to hover near a four-year low. The FBMKLCI lost 9.02 points or 0.49% to close at 1,820.89 after moving between 1,815.31 and 1,827.16 throughout the day. Week-on-week, the key index gained 11.76 points from 1,809.13 on previous Friday. Losers outpaced gainers by 609 to 241 with 292 counters unchanged. Total volume increased to 1.87 billion units worth RM1.99 billion from 1.55 billion units worth RM1.36 billion on Thursday. Weekly turnover increased to 9.49 billion shares worth RM9.20 billion from previous week’s 8.68 billion shares worth RM8.30 billion. Read more >>

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