FBM KLCI - likely to stay in consolidation with an upward bias

Stocks on Bursa Malaysia ended mixed last Friday on lack of buying support ahead of the weekend. However, the benchmark FBMKLCI rose 4 points or 0.22% to close at 1,835.66, after moving between 1,825.82 and 1,836.14 throughout the day. On a weekly basis, the FBMKLCI gained 4.92 points from previous Friday’s 1,830.74. Market breadth was negative with losers leading gainers by 582 to 268, with 305 counters unchanged. Volume rose to 2.45 billion shares worth RM2.68 billion, from 2.38 billion shares worth RM2.09 billion on Thursday. Weekly turnover fell to 13.2 billion shares worth RM11.29 billion, from previous week’s 15.74 billion shares worth RM12.18 billion. ...Read more>>