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Thursday, September 13, 2012

FBM KLCI - selling pressure waning off

Stocks on Bursa Malaysia closed mixed yesterday on a technical rebound after coming under selling pressure since last Wednesday due to foreign fund outflows. Investors were worried that the market could take a plunge if Germany was unable to pass the new bailout fund for debt-ridden Euro-zone economies. The market stayed range-bound amid renewed concerns on Greece's deteriorating financial condition, but buying in blue chips was beginning to pick up. The FBM KLCI, which opened 2.2 points lower at 1,612.04, fell 0.46 point to end at 1,613.78 after moving between 1,609.01 and 1,616.47. Gainers led losers by 409 to 291 while 315 counters closed unchanged. Total turnover fell to 804.44 million shares worth RM1.60 billion from Tuesday's 961.08 million shares worth RM1.79 billion. Read more

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