Friday, 24 August 2012

FKLI Related News
The Dow fell more than it has since July 20, dropping 115 points, or 0.88%. It was the index’s fourth consecutive day ending in the red.
The drop may indicate a hangover from the release of Fed minutes on Wednesday, which were initially greeted with glee. On Thursday, however, St. Louis Fed President James Bullard told CNBC that those minutes are now “stale” and that the Fed may end up deciding not to act if the economy keeps improving. Weekly jobless claims also ticked up to 372,000, and data out of China showed factory output hit a nine-month low.  (Barron’s)
Asian shares retreated from a two-week high on Friday on scaled back expectations of more stimulus from the U.S. Federal Reserve and growth concerns after manufacturing surveys from the euro zone and China depicted a bleak outlook.
Brent crude pared gains on Thursday as revived hopes for more stimulus from the U.S. Federal Reserve faded and doubts about Europe's ability to address its debt crisis crept back in focus. (Reuters)
Share prices on Bursa Malaysia closed mixed yesterday after a two-day break, with the FTSE Bursa Malaysia KLCI (FBM KLCI) erasing gains after rising to a new high of 1,655.39 in morning trading.

Mercury Securities Sdn Bhd head of research Edmund Tham said there was less activity yesterday as investors are still away on holidays after the Hari Raya festival.

Meanwhile, the weak Japan July exports data and investors' cautiousness over expectations that the European Central Bank would act soon to stem the eurozone debt crisis also contributed to the market sentiment, he said. (

KLCI is generally expected to be in negative territory Friday as the index has been in a sideways trend, being capped by the 1655 resistance level. Todays support is around 1620.

No comments:

Post a Comment