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...
Crude oil price seems to have recover and stabilize.
To a certain extend, this was in line with what we thought on December 13th in regards to the oil near bottom.
While I'm blogging this, the crude oil price (WTI) is at USD56.13 while the crude oil (brent) is at USD60.73 per barrel. It has dropped a bit but we personally feel that the oil price will not see any more sharp decrease.
The market probably feels the same way as FBM KLCI climbed 28.06 points or 1.64% as investors bought beaten blue-chip stocks.
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| FBM KLCI climbed 28.06 points (1.64%) today |
However, caution must be taken as there are analysts that feel that the crude oil (brent) might fall below USD60 per barrel, but we're quite close to that mark already anyway.
The top gainers for today are Petronas Gas Bhd and consumers counters like Dutch Lady and Nestle. The top decliners are Icon and Hong Leong Bank Bhd.
Regionally, Japan's Nikkei 225 and Hong Kong's Hang Seng Index both rose 0.08% and 1.26% higher.
It has been a good day for the FBM KLCI but caution should be taken for tomorrow's trade as the oil price showed some decline movement....things are still very volatile so it'll be difficult to see a strong rally towards 2015.
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