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...
The financial market is being very volatile, partly influenced by the oil price's volatility. But unlike last week, we have a more positive news circulating the financial world....Saudi to meet Russia in Doha on Tuesday, to discuss the market.
This good news definitely is shared by the global market as most markets seen an uptrend after a bad week last week.
Oil advances above $30 on the news Saudi Arabia’s Oil Minister Ali al- Naimi will speak with his Russian counterpart Alexander Novak in the Qatari capital.
This is an interesting development given that Iran is getting into the game as well.
Oil is still down about 17 percent this year BP Plc predicts the market will remain “tough and choppy” in the first half as it contends with a surplus of 1 million barrels a day. Speculators’ long positions in West Texas Intermediate through Feb. 9 rose to the highest since June, according to data from the U.S. Commodity Futures Trading Commission.
 |
| Saudi meeting Russia to talk about oil this Tuesday could be the salvation |
This good news definitely is shared by the global market as most markets seen an uptrend after a bad week last week.
Oil advances above $30 on the news Saudi Arabia’s Oil Minister Ali al- Naimi will speak with his Russian counterpart Alexander Novak in the Qatari capital.
This is an interesting development given that Iran is getting into the game as well.
Oil is still down about 17 percent this year BP Plc predicts the market will remain “tough and choppy” in the first half as it contends with a surplus of 1 million barrels a day. Speculators’ long positions in West Texas Intermediate through Feb. 9 rose to the highest since June, according to data from the U.S. Commodity Futures Trading Commission.
Comments
Post a Comment