FBM KLCI - likely to consolidate with upward bias at late week

Stocks on Bursa Malaysia closed lower last Friday on profit-taking as investors trim their positions ahead of the Christmas and New Year holidays. The benchmark FBM KLCI fell 11.75 points or 0.70% to 1,658.85, was dragged down by losses seen in key heavyweights and consumer-related counters, after opening 3.51 points lower at 1,667.09, and moved between 1,658.85 and 1,668.42. On a weekly basis, the benchmark barometer gained  6.87 points from 1,651.98 previously. Losers led gainers by 380 to 266, while 328 counters were unchanged. Volume dropped to 699.962 million shares worth RM1.203 billion from Thursday's 883.819 million shares worth RM1.378 billion, and weekly turnover fell to 3.874 billion shares worth RM6.569 billion from the 4.31 billion shares worth RM7.6 billion done in the previous week. ...Read more>>