FBM KLCI - likely to consolidate

Stocks  on Bursa Malaysia closed easier in quiet trading last Friday on mild profit taking activity but the composite index managed to stay above the 1,800-points level. The market sentiment turned mildly bearish in line with weak key regional markets, led by Japan. The FBM KLCI ended at 1,807.61, down 0.81 points or 0.04%, with losses in CIMB dragging the composite index by 1.511 points. The barometer index moved between 1,804.98 and 1,811.65 points throughout the day. On weekly basis, the FBM KLCI gained 9.87 points higher from previous Friday's 1,797.74 points. Losers thumped gainers by 443 to 303, with 323 counters unchanged. Turnover rose to 1.119 billion shares, valued RM1.623 billion from Thursday's 1.37 billion shares, worth RM1.86 billion. Weekly turnover fell to 6.832 billion shares worth RM9.501 billion from previous week's 7.518 billion shares valued at RM11.102 billion. ...Read more>>