The FBM KLCI finished slightly lower on Friday, nudged into the red by selling pressure from the industrials and plantation stocks. KL equity market has finished lower now in back-to-back sessions, retreating nearly 10 points or 0.6 percent in the process. The FTSE Kuala Lumpur Composite Index finished just above the 1,520-point plateau, although now investors are bracing for further if mild consolidation at the opening of trade on Monday. Last Friday, the index shed 3.58 points or 0.23 percent to finish at 1,522.75.
There is no lead from Wall Street, although the markets may be affected by news that Japan's cabinet on Friday announced 4 trillion yen extra budget for the reconstruction of the country's quake-hit regions. The budget is seen as the first in a series of funding packages to be announced to rebuild the economy, rattled by its strongest earthquake on record.
In economic news, Malaysia's international reserves rose during the period from end-March to April 15, central bank data showed on Friday. Gross international reserves of Bank Negara Malaysia were $122.205 billion on April 15, up from $113.838 billion on March 31. Foreign currency reserves grew to $110.8 billion from $102.3 billion. The IMF reserve position was unchanged at $0.7 billion and SDRs held steady at $2 billion. Gold reserves were also unchanged at $1.7 billion. Other reserve assets totaled $7 billion, down from $7.1 billion.
If an overdue rebound is not on then we'd be looking at 1500 or lower soon. However, ZLBT remains in LONG mindset.
Itu biasalah :D
HAPPY TRADING
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