Dear all,
FBMKLCI ends lower for 6th consecutive day. Our local bourse ended at the intraday low at 1652.63. The KLCI was down by 10.68 points or 0.64%. Losers outweighs gainers by 549 to 253 while 1102 counters remain unchanged.
Volume was higher at RM1.4957 billion as compared to at RM1.3461 billion.
Last night, US Dow started their trading in the negative territory to drop to an intraday low of 23886 and rebounded to close high. Price failed to close below the support and form a hammer. Technical rebounded is expected but we are still bearish.
Europe market trade higher since market open. At time of writing, most of the indices are trading 1% higher. Market regain investors confidence as there were new updates of US-China trade talks.
On Tuesday morning, China reported to have talked on the telephone with US Trade Representative. However, British Prime Minister Theresa May postponed the parliamentary vote on her Brexit Deal. Much uncertainty will be caused with EU refusing to renegotiate a new deal.
For our Asia market closes with mix reactions. Hang Seng and China closed positive, as for Japan, Nikkei closed red. As for our local bourse, it closed bearish. With our local negative news, market sentiment continues to weaken.
Tabung Haji is said to be paying dividends illegally by taking depositors money instead of gaining from investment. However, Former Tabung Haji Chairman denied and accuse this news as misleading the public. With more than Rm70 billion fund under Tabung Haji, this news will put pressures on our local stock market.
All the best for a great Wednesday but be cautious as the overall sentiment of our market is bearish.
No comments:
Post a Comment