FBM KLCI - likely to further correct this week

Stocks on Bursa Malaysia fell sharply lower last Friday as investors locked in profits ahead of the weekend amid the absence of major funds. The FBMKLCI ended 9.04 points or 0.48% lower at 1,880.93, after moving between 1,880.25 and 1,889.34. On a weekly basis, the benchmark index fell 4.79 points from previous Friday’s 1,885.72 after recording an all-time high of 1,892.33 points on Tuesday. Market breadth was negative as decliners led advancers by 394 to 372, with 333 counters unchanged. Total volume rose to 1.64 billion units worth RM1.8 billion from Thursday’s 1.42 billion shares worth RM1.95 billion. Weekly turnover declined to 8.49 billion shares valued at RM9.99 billion from 8.58 billion shares valued at RM28.27 billion the previous week. Read more>>