FBM KLCI - likely to stay range-bound with a bearish bias
Stocks on Bursa Malaysia closed slightly lower last Friday amid a sluggish performance in line with the poor performance on regional markets. The lack of domestic catalyst had led the trading volume to decline, as most retail investors preferred to remain on the sidelines. The FBM KLCI ended at 1,720.76, down 1.68 points, or 0.10%, after fluctuating between 1,712.49 and 1,721.45 throughout the day. On a weekly basis, the benchmark index was down 5.97 points or 0.34% from previous week’s 1,726.73. Gainers led losers by 423 to 416 with 305 counters unchanged. Total volume slipped to 1.74 billion units valued at RM1.5 billion from Thursday’s 1.76 billion units valued at RM1.68 billion. Weekly turnover rose to 8.35 billion units worth RM7.93 billion from last week’s 5.13 billion units worth RM5.87 billion.