FBM KLCI - likely to stage further rebound

Stocks on Bursa Malaysia pared its week loss last Friday sparked by optimism over Bank Negara Malaysia’s decision to keep interest rates unchanged and overnight strength on United States stocks to record highs on Fed’s commitment to sustain low interest rates for a longer period. The benchmark FBMKLCI closed 4.17 points or 0.23% better at 1,849.49 after moving between 1,843.35 and 1,853.68. Week-on-week, the key index lost 6.15 points from previous Friday’s 1,855.64. Gainers outpaced losers by 578 to 251 with 320 counters unchanged. Total volume rose to 2.60 billion shares worth RM2.26 billion from 2.06 billion shares worth RM2.30 billion on Thursday. Weekly turnover, for the holiday-shortened week, fell to 8.84 billion shares valued at RM8.16 billion from 11.85 billion shares valued at RM10.11 billion recorded the previous week. Read more >>