Foreign fund buying on Bursa Malaysia continued for the second day on Thursday with net buying at RM241.4mil, according to BIMB Securities Research.
It said the gains in the FBM KLCI on Thursday, where the 30-stock index added 11.56 points to close at 1,809.13 was mainly due to fresh foreign fund inflows.
While foreign funds were buying, local institutions and retailers took the opportunity to lock in reent gains. Local funds were net sellers at RM187.5mil and retailers net sellers at -RM53.9mil.
Overnight on Wall Street, the major indices closed lower on profit taking as the US dollar strengthened against the euro amid the ongoing ECB’s bond buying process.
The DJI Average lost 117.16 points to close at 17,959.03. On the contrary, European markets were mostly higher from the ongoing QE as investors are betting on improving earnings from the weakening euro.
In Asia, major markets were mostly higher from inflows of foreign funds on expectations that the US rate hike will be delayed further.
“Despite the decline on Wall Street, we expect foreign funds to continue accumulating on Asian stocks today with the local benchmark index to retest the 1,820 level which is the immediate resistance,” it said.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
AyamTua
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Posted by AyamTua > 2015-03-12 16:43 | Report Abuse
ada sikit naik.. wahahahhahaha
manyak baguih