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Monday, January 5, 2015

Market Daily Report (05 Jan 2015)

It's the first Monday of 2015 and the market is already showing where it's going....DOWNTREND.

FBM KLCI dropped 16.15 points as at 5pm today

As the crude oil price continued to remain sluggish and the introduction of base rate, FBM KLCI responded in similar fashion, with a drop of 0.92% to close at 1,736.620 points. Oil price hit a 5 1/2 year low while Ringgit slump continued.

Below are the top 10 gainers, top 10 losers and top 10 active for the day:

Among the Top 10 Gainers are Panasonic, Hong Leong Bank, F& N, Carlsberg...

Among the Top 10 Losers are British American Tobacco (BAT), Public Bank, PIE Industrial Bhd

The most active counter for the day is Minetec

With the oil prices and the Ringgit devalued even further, investors tend to get jittery about the possibility of another crisis happening, similar to what happened in 1998 although there are others who are optimistic about the future prospect in Malaysia and that the downtrend will not lead to a crisis. 

In its market commentary today, TA Securities Research said following last week's profit-taking correction, the KLCI should extend post window-dressing profit-taking as blue chips correct further amid slowing institutional participation.

On the regional front, things are also in the red with Hong Kong's Hang Seng closed the day after shedding 0.57%. South Korea's Kospi ended 0.55% lower, while Japan's Nikkei 225 was down 0.24%.

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