NST Online Business Times : latest

Posted: 19 Apr 2013 07:34 PM PDT

[unable to retrieve full-text content]Against the backdrop of a slowdown in global growth, the FTSE Bursa Malaysia KLCI (FBM KLCI) is expected to trade softer and within a tight range of between 1,680 points and 1,700 points next week. Affin Investment Bank vice-president/head of retail research Dr Nazri Khan said the local market would continue to remain volatile in the absence of market moving factors at home and abroad. "Bursa is likely to copy regional weaknesses after the International Monetary Fund cut the global growth outlook which saw commodity prices falling on concerns over weaker demand. "We believe the local equity market may have a choppy time as investors price in concerns over the weaker prospects for global economic growth," he told Bernama. Given the strong foreign inflow of funds and higher cash holdings of domestic institutional funds, Nazri said the impending general elections would offer modest bargain hunting activity and this should prevent the FBM KLCI from falling below the 1,700 points support level. On a Friday-to-Friday basis, the benchmark FBM KLCI ended 7.75 points higher at 1,706.28 as the underlying sentiment still remained intact. The Finance Index soared 83.91 points to 15,983.9, the Plantation Index rose 28.7 points to 8,143.24 and the Industrial Index added 3.83 points to 2,902.47. The FBM Emas Index gained 40.63 points to 11,667.64, FBM Mid 70 increased 13.8 points to 12,931.44 but the FBMT100 slipped 6.23 points to 11,449.02 and the FBM Ace Index dropped 64.39 points to 3,986.29. Weekly turnover declined to 4.187 billion shares, worth RM8.264 billion, from last week's 5.535 billion shares valued at RM9.124 billion. Main market volume fell to 3.475 billion shares, worth RM8.165 billion, from 4.674 billion units, valued at RM9.01 billion, registered last week. The ACE market volume eased to 542.592 million shares, worth RM78.377 million, from 656.884 million shares, valued at RM91.183 million, recorded in the previous week. Warrants decreased to 160.796 million shares, worth RM14.687 million, against last week's 191.441 million units valued at RM14.622 million.-- Bernama

Ringgit likely to move within tight range

Posted: 19 Apr 2013 07:40 PM PDT

[unable to retrieve full-text content]The ringgit is expected to see range-bound trading next week in the absence of both local and external market moving factors, dealers said. The local currency is likely to move between 3.015 and 3.050 next week versus the greenback next week. "Investors will probably choose to remain on the sidelines ahead of the general elections," he said, adding that aggressive ringgit trading would pick perhaps after polling. He predicted that the local currency would recover lost ground and appreciate strongly if the present government receives a fresh mandate to rule the country in the forthcoming elections on May 5. Regionally, the ringgit market would closely watch the brittle US economy, as well as, new monetary policies by the Bank of Japan. Meanwhile, Kenanga Research said with the shift in investments back to US denominated assets, along with the uncertainty in the global economy, the ringgit would remain volatile and trade within 3.03 and 3.15 in the next three to six months. "However, on the expectation that the economy is to improve in the second half of this year, there is still room for the ringgit to appreciate in tandem with better economic prospects in the region," it added. Hence, Kenanga said its year-end target still remained at 2.9 against the US dollar. Throughout the week, the ringgit traded sideways but on Wednesday it led gains among emerging Asian currencies as the yuan rallied to a record-high and ended the week slightly higher at 3.0340/0370 from 3.0375/0405 previously. Meanwhile, the ringgit was mixed against other major currencies. It was marginally lower against the Singapore dollar at 2.4559/4597 from 2.4540/4566 last Friday but appreciated against the yen to 3.0591/0624 from 3.0657/0690, previously. It appreciated against the British pound to 4.6602/6657 from last Friday's 4.6665/6723 but fell against the euro to 3.9715/9763 from 3.9682/9724 previously.-- Bernama

Kredit: www.nst.com.my

Jumaat, 19 April 2013

NST Online Business Times : latest

NST Online Business Times : latest

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