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Monday, August 24, 2015

FBM KLCI - likely to extend downtrend


Stocks on Bursa Malaysia ended last Friday on a negative note weighed by last-minute selling in selected index-linked stocks led by Petronas Chemicals. Market sentiments remained fragile as Asian stock markets tumbled further on mounting concerns over China’s slowing economy, sparking jitters across global markets. Meanwhile, uncertainties surrounding the timing of the Federal Reserve’s interest rate hike, as well as lower commodities prices also continued to dominate sentiments. At close, the benchmark FBM KLCI stood at 1,574.67 points, down by 2.74 points, or 0.17%, after hovering between 1,557.01 and 1,583.38 throughout the day. On a weekly basis, the FBM KLCI fell 22.15 points from previous Friday’s 1,596.82. Losers led gainers by 470 to 330 with 326 counters unchanged. Total volume was unchanged at 1.79 billion units, valued at RM2.13 billion compared with RM1.77 billion on Thursday. Weekly turnover fell to 9.79 billion units, worth RM9.74 billion, from last week’s 10.26 billion units worth RM10.76 billion. Read more >>

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