I came across this article today and even though there is serious facts within the article, my opinion is don't believe everything you read just for the sake of it. We will have to read, analyze and make our own judgements for sure.
I think the following title of the article below will send shivers to you if you have just invested recently and have yet to sell off and make profit. It is certain that external factors do influence the market but not all counters are affected directly. Please do not perform any rash actions and continue to monitor and access the situation.
Wishing you all the best and Happy Trading!
The following article came from The Borneo Post and you can access the original article here.
Bursa Malaysia to consolidate
KUALA LUMPUR: Bursa Malaysia is expected to consolidate ahead of the US Federal Reserve (Fed) interest rate decision, said Affin Hwang Investment Bank vice-president/head of Retail Research, Datuk Dr Nazri Khan Adam Khan.
He said the local bourse’s overall sentiment was expected to be cautious ahead of the Fed action.
Nazri said the biggest source of uncertainty continued to be the Fed, as the possibility that US interest rates could rise for the first time in nearly a decade continued to hang over the markets.
“We, however, do not rule out a small possibility that the Fed’s Open Market Committee would keep interest rates unchanged and this would push the shares higher.
“This is due to statements from International Monetary Fund and World Bank which warned that the Fed risked triggering ‘panic and turmoil’ in emerging markets if it opted to tighten this month, and should instead wait until the global economy was on a firmer footing,” he told Bernama.
The market could, however, also gain strength from the mild rebound in the prices of the commodities, the recovery of Chinese market and the steady ringgit, he said.
Nazri said the players would also take advantage of the grossly-oversold market to accumulate bashed-down quality counters.
On a weekly basis, the key index FBM KLCI finished 14.44 points better at 1,603.60 on bargain hunting.
The FBM Emas Index added 147.08 points to 11,029.12, FBMT100 Index gained 126.98 points to 10,752.77 and FBM Emas Shariah rose 121.23 points to 11,551.34.
The FBM Ace leaped 349.43 points to 5,478.63 and FBM 70 soared 252.43 points to 11,890.56.
Sector-wise, the Finance Index added 91.27 points for 14,015.90, Plantation Index climbed 76.78 points to 6,890.07 and Industrial Index rose 19 points to 3,084.86.
Weekly turnover increased to 10.31 billion units worth RM9.54 billion from last week’s 7.51 billion units worth RM7.84 billion.
Main market volume rose to 5.57 billion units worth RM8.37 billion from 3.76 billion units worth RM6.71 billion last week.
Warrant turnover expanded to 2.63 billion shares valued at RM637.15 million from 2.44 billion units valued at RM817.17 million previously.
ACE market volume rose to 2.10 billion units worth RM531.89 million from last week’s 1.31 billion units worth RM307.95 million. — Bernama
