FBM KLCI - likely to move higher

Stocks on Bursa Malaysia ended mixed last Friday in line with the sentiment on regional markets and in the face of China’s weak manufacturing data. The FBM KLCI, which opened at 1,636.47, finished 0.19 of a point lower at 1,637.44, due to profit taking in selected heavyweights after recent gains, hovered between 1,636.47 and 1,640.6 throughout the trading day. On a weekly basis, the benchmark index gained 15.36 points or 0.9% from 1,622.08 on previous Friday. Advancers led decliners by 362 to 272, with 323 counters unchanged. Total volume declined to 878 million shares valued at RM1.45 billion from Thursday's 1.01 billion shares worth RM1.98 billion. Weekly turnover slipped to 4.43 billion, worth RM7.76 billion, versus previous week's 5.02 billion units valued at RM7 billion. ...Read more>>