FBM KLCI - likely to continue its downtrend
Stocks on Bursa Malaysia ended lower last Friday on continued sell down by foreign funds as concerns over the weaker ringgit against the US dollar and declining oil prices continued to weigh down the benchmark index. Ay close, the FBM KLCI fell 11.99 points, or 0.7%, to 1,682.65 after fluctuating between 1,677.22 and 1,695.18 throughout the day. On a weekly basis, the benchmark index fell 40.49 points from previous Friday’s 1,723.14. Decliners outnumbered gainers by 722 to 187 with 257 counters unchanged. Total volume rose to 1.86 billion units valued at RM1.79 billion from 1.65 billion units valued at RM2.02 billion on Thursday. Weekly turnover declined to 7.38 billion units worth RM7.99 billion from last week’s 9.01 billion units worth RM9.36 billion.