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Wednesday, June 26, 2013

FBM KLCI - turning bearish for the medium term

Stocks on Bursa Malaysia closed at a seven-week low yesterday as increasing worries over external developments curbed investors' appetite, influenced by concerns about a credit crunch in China, reflecting the prospect of slower economic growth for the world's second largest economy. The FBM KLCI fell 9.55 points or 0.55% to close at 1,728.64, after moving between 1,723.74 and 1,743.16 throughout the trading session. Losers trounced advancers by 531 to 258, with 289 counters unchanged. Total volume slipped to 1.599 billion shares worth RM2.851 billion from 1.67 billion shares valued at RM2.18 billion on Monday. ...Read more>>

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