Published: 2009/09/02
The FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) is expected to hold the fort despite the anticipated weakness in the Wall Street, says MIDF Research.
The Dow Jones Industrial Average fell 185.7 points or 1.96 per cent from 9496.3 to 9310.6 due to profit-taking on Tuesday.
The tone is set for the next few weeks for depressed sentiment as the market discounts the positive macro news, said MIDF.
However, regional equity market momentum is not expected to be broken as liquidity is still flowing into the market, said MIDF in its research note.
"Last week, foreign fund purchases of equity in six Asian markets (Taiwan, South Korea, India, Thailand, Indonesia, the Philippines) surged to US$2.7 billion," the research house said.
Meanwhile, September is expected to be a lull month for the Malaysian market as the market is wary of the Wall Street and awaits the next wave of positive news flow after the encouraging 2009 earning numbers. -- Bernama
About Me
- Nuang
- Ibrahim bin Ramli@Nuang started his career with CIMB Wealth Advisors Berhad as Agency Manager in April, 2008.Previously he was an Internal Auditors and Accounts Executive with Perodua Sales Sdn Bhd since 17 August, 1994. His background:- 1.Certified of Achievement for Master Sales Leadership from Dr Lawrence Walter Ng of President of The Art Of Learning and International Of Learning Without Learning 2.Certified for eXtra Ordinary Performance of Lawrence Walter Award Certificate for One Million Ringgit Club 2007 3. Certified Life & General insurances 4. Conferred with Diploma in Business Studiess & Bachelor of Business Admin(Hons)Finance from UiTM, Terengganu Branch & Shah Alam respectively;
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