Malaysia’s benchmark index retreated as profit-taking in key heavyweights weighed on sentiment, while overall market activity remained active. Summary FBM KLCI fell 0.83% to 1,684.93 , dragged by losses in banking and selected large-cap names, despite steady trading participation. Market Performance FBM KLCI : 1,684.93 (-0.83%) FBM Mid 70: -0.00% (flat) FBM Small Cap: -0.23% FBM ACE: +0.20% Broad market was mixed , with weakness concentrated in large caps. Market Breadth & Trading Activity Total volume: 3.54 billion shares Total value: RM4.19 billion Gainers: 456 Losers: 678 Unchanged: 550 Market breadth turned negative , reflecting cautious sentiment. Top Movers – KLCI Gainers Axiata (6888.MY) +1.54% Petronas Gas (6033.MY) +1.18% Sunway (5211.MY) +1.15% Losers Hong Leong Bank (5819.MY) -3.29% Maybank (1155.MY) -3.02% CIMB (1023.MY) -2.47% Banking sector weakness was the main ...
While the bearish market continue in the market as oil price plunge continue, some analysts are starting to believe the bottom is near.
It is hard to predict where the bottom is but some forecasters believe the long tumble of crude oil is about to come to an end.
The average forecast in the latest survey believe that the crude oil to trade at US$64 a barrel at the end of December 2014.
With the crude oil (brent) at US$61.85 per barrel now, some analyst believe the sharp drop is coming to an end.
It is difficult to do a forecast but it is likely for us to see the oil price to trend at this level for the coming weeks.
What say you? Did the analysts get it right this time?
Comments
Post a Comment