FBM KLCI - likely to further correct downward

Stocks on Bursa Malaysia closed broadly lower last Friday with the benchmark FBMKLCI sharply lower in tandem with Asian equity markets as overall sentiment remained weak due to global growth concerns. The FBMKLCI fell 20.85 points or 1.14% to close at 1,808.88 after moving between 1,808.09 and 1,822.92 throughout the day. On a weekly basis, the key index lost 31.94 points from 1,840.82 on previous Friday. Decliners trounced advancers by 747 to 152 while 254 counters were unchanged. Total volume rose to 2.22 billion shares worth RM2.34 billion compared with 1.81 billion shares worth RM1.85 billion on Thursday. Weekly turnover decreased to 8.80 billion shares valued at RM8.77 billion, from 11.39 billion shares valued at RM9.43 billion the previous week. Read more >>