FBM KLCI - likely to further consolidate

Stocks on Bursa Malaysia closed lower last Friday, weighed down by losses in selected blue-chips and heavyweights amid Wall Street’s overnight losses with the Dow losing more than 300-points. The FBMKLCI fell 8.02 points or 0.43% to 1,863.34, after opening 5.25 points lower at 1,866.11 and moved between 1,861.6 and 1,868.01 throughout the day. On a Friday-to-Friday basis, the benchmark index lost 14 points from previous Friday’s 1,877.34. Losers thumped gainers by 603 to 285, with 296 counters unchanged. Total volume decreased to 2.1 billion units valued at RM1.9 billion compared with 2.5 billion units valued at RM2.5 billion on Thursday. Weekly turnover for the holiday-shortened three-day trading week fell to 6.71 billion shares valued at RM6.77 billion from 11.04 billion shares valued at RM9.9 billion the previous week. Read more>>