FBM KLCI - likely to remain in sideways range-bound

Stocks on Bursa Malaysia closed higher last Friday on bargain hunting across the board in line with the stronger regional stock markets as Southeast Asian stock markets staged a mild rebound, tracking the firmer US equities board as Wall Street shook off concerns over recent Federal Reserve policy. The FBMKLCI ended 2.31 points or 0.13% higher at 1,820.48 after hovering between 1,816.85 and 1,821.69. Week-on-week, the key index gained 15.36 points from 1,805.12 on previous Friday. Gainers outpaced losers by 439 to 328, with 322 unchanged. Turnover stood at 1.75 billion shares worth RM3.12 billion from Thursday’s 1.51 billion shares worth RM1.85 billion. Weekly turnover fell to 7.29 billion shares worth RM10.08 billion from previous week’s 8.45 billion shares worth RM10.34 billion. ...Read more>>