Wednesday, August 19, 2009

Market Wrap report for the week ended 14 August 2009.

The FBM KLCI moved sideways before rising to a 14-month intraday high of 1,196.4 points on Friday following higher regional markets. The index closed at 1,188.6 points for a weekly gain of 0.3% over the week.

Most regional markets rose on follow-through buying amid expectations of continued recovery in the global economy.

The market is anticipated to move in tandem with overseas markets as investors monitor the outlook for the U.S. credit market, global economic activities and interest rates. However, the strong gains in global and regional stock markets since early July 2009 could lead to profit-taking activities in the near term.

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