Showing posts from November, 2015

Market Conditions Remain Unfavourable for FBMKLCI

The FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) suffered a setback last week after strong October U.S. jobs data fueled expectations the US Federal Reserve will raise interest rates at its December policy meeting. Oil & gas, banking and plantation stocks re the main drags on the index, but a sharp overnight Wall Street correction sparked by weak crude oil prices was offset by local funds bargain hunting ahead of the weekend.

For the week, the FBM KLCI retraced 26.79 points, or 1.6% to close at 1,658.91, with Genting Berhad (-48sen), Sime Darby (-31sen), CIMB (-14sen), IOI Corp (-19sen) and Public Bank (-22sen) representing more than half of the index’s loss. Average daily traded volume and value stabilized at 2.2 billion shares and RM2billion, compared with the 2.5 billion shares and RM2.2 billion average respectively the previous week.

The third quarter 2015 (3Q15) GDP announcement came and went without much excitement as the 4.7% YoY growth was largely wit…