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Friday, November 1, 2013

FBM KLCI - beginning of a short term correction

Stocks on Bursa Malaysia ended lower yesterday as investors cut risk exposure on heavyweights after the US Federal Reserve’s policy outlook was seen as less dovish than expected. The market was dominated by profit taking with investors bearish on the latest decision by the Fed to maintain its quantitative easing policy, while awaiting more evidence that the US economic progress would be sustained before starting any tapering process. The FBMKLCI was down 10.53 points or 0.58% at 1806.85, after moving between 1,804.56 and 1,815.15 throughout the day. Losers led gainers by 457 to 327, with 440 counters unchanged. Total volume rose to 1.89 billion shares worth RM2.19 billion from the 1.70 billion shares worth RM1.80 billion on Wednesday.  ...Read more>>

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