Today’s news stated that BURSA Malaysia is expected to trend higher this week on oversold situation, technical buying and year-end window-dressing, dealers said. According to the source, they said the other positive factors to support the local index were a stable euro, well-subscribed Spanish bond auction and a short-covering rally in the European stocks.
However, the benchmark FBM KLCI ends with morning trading at 12.30 p.m. lower by 0.68 points or 0.05% to 1,465.54.There were 201 counters up, 403 down and 249 remained unchanged. Volume stood at 886.8 million shares valued at RM458.1mil. According to HwangDBS key equity indices on the Wall Streets ended mixed last Friday as Fitch Ratings lowered France's credit outlook, and also put Spain, Italy, Belgium, Slovenia, Ireland and Cyprus on a Rating Watch Negative review, which was expected to be completed by the end of January (FBM KLCI ends morning market lower, 2011) .
Whether up or down, it seems like the overall stock market outlook for this week is remain uncertain.
Reference:
FBM KLCI ends morning market lower. (2011, December 19). Retrieved December 19, 2011, from thestaronline: http://biz.thestar.com.my/news/story.asp?file=/2011/12/19/business/20111219110349&sec=business#13242776194241&if_height=492
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