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Showing posts with the label 2016

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Market Daily Report: Bursa Malaysia Closes Higher On BNM’s OPR Decision, Wall Street Gains

KUALA LUMPUR, Nov 5 (Bernama) -- Bursa Malaysia closed higher, buoyed by Bank Negara Malaysia’s (BNM) decision to maintain the Overnight Policy Rate (OPR) at 2.75 per cent, alongside positive cues from Wall Street. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 19.30 points, or 1.19 per cent, to 1,635.86 from Wednesday’s close of 1,616.56. The benchmark index opened 6.72 points higher at 1,623.28, and fluctuated between an intraday high of 1,642.44 and a low of 1,622.62 during the trading session. However, market breadth was negative, with losers outnumbering gainers 723 to 497, while 466 counters were unchanged, 1,075 untraded and 10 suspended. Turnover rose to 3.74 billion units valued at RM3.61 billion compared with yesterday’s 2.81 billion units valued at RM2.57 billion.
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2016 - Nightmare continues for Oil

It is easy to think that the nightmare for oil ended in 2015 but the market is showing us otherwise.  Crude oil's nightmare continues in 2016 as the price fell toward $30 a barrel. A supply response to lower prices continues to be slow in coming and signs of a China's slowdown is hurting the oil & gas producers.  The low oil price is hurting the oil & gas sector   HOW LOW CAN IT GO? The drop in oil prices has been accompanied by a fresh round of bearish commentary, with Morgan Stanley calling for prices to fall as low as $20 per barrel while Guggenheim sees crude reaching $25 per barrel. With the continuous drop, the latest range of investment bank forecasts has them dropping as low as $10 a barrel before finally bouncing back. So, will it be $25, $20 or even $10? How low can it go?  Primarily to blame was the 14 per cent slump on China's markets this year, which is being driven by concerns over growth that could ultimately hit oil demand....
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2016: GLOBAL BEAR MARKET?

Some analysts have the view that the start to the year typically are associated with the post-holiday blues with low volume. It was reported in StraitsTime that analyst, Charles Kong said, "Markets usually edge up on low volume. People take time to recover from the holidays and traders don't usually jump in straightaway." Well, the theory has been immediately discarded when 2016 kickstart. All numbers in red and sell orders piling up. The China market was in a free fall with a survey of China's manufacturing confirmed fears that growth was slowing in the second largest economy. The yuan also fell to its lowest in five years. Investors were also getting used to the circuit breaker, with so many people rushing to sell and worries of being caught stuck once the circuit breaker triggers the close of the exchange. Source from Bloomberg Over the past week, investors lost an estimated US$2.3 trillion (S$3.3 trillion) across global markets. In Singapore alone, th...
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RED Start 2016

REDDISH START FOR FBMKLCI Forget the champagne, the Christmas tree, the gifts, the holidays....2016 kickstart and FBMKLCI brings Malaysian back to reality....39.14 points dropped. That's a 2.31% decline from where we were on 31st December 2015.  Of course, Malaysians will be relief that we are not the only one....most likely, no other countries take it worse than China did....Shanghai Shenzhen CSI 300 Index fell 7% to trigger the "circuit breaker" on the very first day that the trading suspension mechanism came into effect. Here's a summary for the day: A total of 1.92 billion shares, worth RM1.734 billion, were done for the whole trading session. The top losing counter was British American Tobacco Malaysia Bhd , while the top gainer was United Plantations Bhd . The most actively-traded stock of the day was Instacom Group Bhd , with a trading volume of 85.77 million shares.  So what do you think? Will this red and bear period be a short one or a longer on...
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