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Wednesday, December 17, 2014

Market Daily Report (17 Dec 2014)



There is a sense of relief as FBM KLCI rebound after closing lower for 4 days. It is more of a technical rebound, with the index closed at 1,681.900, increased by 7.96 points.


The technical rebound come as there is sign of stabilization in price of commodities and ringgit.

The rebound is welcomed with a sign of relief after the FBM KLCI Index dropped 35.68 points on Monday (15/12/2014) and another 23.27 points on Tuesday (16/12/2014). The rebound happened as analysts believe the market is in an oversold condition.

On the other hand, the Asian markets were mixed with Japan’s Nikkei rose 0.38%, Hong Kong’s Hang Seng retreated 0.37%, while South Korea’s Kospi fell 0.21%. 

The current financial crisis in Russia, and the sharp decrease in the oil price has negatively impacted the market.


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