FBM KLCI - likely to consolidate further

Stocks on Bursa Malaysia closed lower last Friday with the benchmark FBM KLCI settled the day lower on lack of catalysts to drive the market, and as investors took profit from earlier gains amid losses in neighboring bourses. At close, the FBM KLCI finished at 1,781.75, down 5.12 points or 0.29% after fluctuating between 1,781.75 and 1,789.36 throughout the day. Week-on-week, the FBM KLCI lost 25.21 points from 1,786.34 on previous Friday. Losers outpaced gainers by 471 to 372 with 308 counters unchanged. Total volume was slightly higher at 2.96 billion shares worth RM1.8 billion from 2.94 billion shares worth RM2.2 billion on Thursday. Weekly turnover increased to 13.09 billion units worth RM10.43 billion from 11.34 billion units worth RM11 billion on previous week. Read more >>