KUALA LUMPUR, Dec 5 (Bernama) -- Bursa Malaysia closed lower on Friday amid mixed regional market performance as investors turned cautious over a possible rate hike by the Bank of Japan (BOJ) and upcoming US economic data that may influence the Federal Reserve’s (Fed) interest rate decision next week. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) pared most earlier losses to settle 4.55 points easier, or 0.28 per cent, to 1,616.52 from Thursday’s close of 1,621.07. The benchmark index, which opened 0.37 of-a-point lower at 1,620.70, moved between 1,609.67 and 1,621.25 throughout the day. The broader market was negative, with decliners outpacing advancers 604 to 439. A total of 550 counters were unchanged, 1,151 untraded, and 18 suspended. Turnover declined to 3.17 billion units worth RM2.24 billion from 4.48 billion units worth RM2.75 billion yesterday. Rakuten Trade Sdn Bhd vice-presiden...
While many people have been talking about 2010 being the year towards economy recovery. However, things does not always look too good despite of all these speculations. However, South East Asia stocks does not seem to feeling the positive push. And it could be that the whole world is feeling it as well. Singapore and most South East Asia countries have been on the fall for the sixth day, while Malaysia bank hits.
Singapore's index fell for a sixth session on Wednesday, weighed down by selling in Genting and other big caps, while Malaysia hit its lowest in almost a month, with banks suffering the most.
Most likely, the fall and impact especially towards the bank was due to worries among the public regarding the recent banking proposals in the United States by the Obama administration. There are tough and strict rules being proposed to limit the size and the scope of activities of the country's biggest banks. There are a lot of fears that this might eventually spread towards Europe and eventually the world.
Not only that, there are major concerns that Sentiment in Asian stock markets weakened amid fears that China's efforts to rein in soaring credit growth could hamper the global economic recovery.
Well, this is definitely a period of uncertainty in the market....
Singapore's index fell for a sixth session on Wednesday, weighed down by selling in Genting and other big caps, while Malaysia hit its lowest in almost a month, with banks suffering the most.
Most likely, the fall and impact especially towards the bank was due to worries among the public regarding the recent banking proposals in the United States by the Obama administration. There are tough and strict rules being proposed to limit the size and the scope of activities of the country's biggest banks. There are a lot of fears that this might eventually spread towards Europe and eventually the world.
Not only that, there are major concerns that Sentiment in Asian stock markets weakened amid fears that China's efforts to rein in soaring credit growth could hamper the global economic recovery.
Well, this is definitely a period of uncertainty in the market....
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