2009
Kuala Lumpur Composite Index (KLCI): KLCI bullish and resistance at 1,040
Filed Under (Finance Help) by Admin on 03-05-2009
The swine flu outbreak has caused equity markets to sneeze including Malaysia. The KLCI fell heavily on Monday and extended to Tuesday. The KLCI was bullish on Friday and closed almost at the six-month high at 992.68 points and in the next two days, declined 27 points to settle at 965.70 on Tuesday. The market rebounded on Wednesday after a bearish session in the early morning. The KLCI went as low as 952.37 points in the early morning but later climbed to close at 967.46 points. Markets in the region advanced strongly.
The KLCI remained almost unchanged on-week. The KLCI was at 968.58 points last Wednesday. However, the KLCI is up 98 points or 11.3 percent on-month. The KLCI level a year ago was at 1,283.65 points. The market has become more active now and trading volume continues to grow. The daily average volume for a week has soared to 1.7 billion shares, 54% higher than the daily average in the previous corresponding week. More than two billion shares exchanged hands on Friday and Monday, something we have not seen in a long time.