FKLI related news

Stocks managed to eek out small gains today in another day of light trading that is typical for the week before Labor Day. The economic reports today were stronger than expected, with home sales data providing another indicator that housing has finally bottomed after being a major drag on the economy since 2008. GDP growth was also better than expected. Not necessarily robust, but better, which indicates the slow economic recovery continues. Hurricane Isaac drenched the Louisiana Coast with flooding rain but property and casualty stocks didn't get hammered as damage appeared to be relatively modest, at least in comparison to the devastation wrought by Katrina.

The Dow Jones Industrial average added four points to close at 13, 107. Overall, we wouldn't put a lot of stock in what the market does over the next couple of days given the low volume. The real direction for stocks won't be clear until September, when the pros in both Europe and the U.S. return from their summer holidays. (Indie Research)

0926 GMT [Dow Jones] Malaysia shares close down 0.1% at 1645.58, with select plantation stocks facing selling pressure amid falling palm oil prices. "With another long weekend ahead of us, expect to see some consolidation in the market through Thursday," says a local dealer; he tips the broader index to move in a 1645-1652 band in the near term.