28 March 2014 - BC Daily Trading Floor

by **Cals** Fri 28 Mar 2014, 11:48

Good day traders
Coffee

by **Cals** Fri 28 Mar 2014, 19:13

Market Close KLCI nudges up 0.2% on window dressing

Business & Markets 2014

Written by Jeffrey Tan of theedgemalaysia.com

Friday, 28 March 2014 17:32

KUALA LUMPUR (Mar 28): The FBM KLCI nudged higher as fund managers engaged in window dressing efforts to round-off the first quarter of the 2014 calendar year.

At the 5.00 pm market close, the benchmark index rose 3.86 points or 0.2% to 1,850.73 points, after falling earlier for most of the day. There was some last-minute push for the index to enter positive territory.

SJ Securities Sdn Bhd’s senior remisier Goh Kay Chong told theedgemalaysia.com the market pattern today was largely due to window dressing activities.

“Fund managers want to maintain market confidence,” he said over the telephone.

“We see selective play among the small-cap stocks. On the whole, the KLCI should be climbing back up to a stabilised range next week,” he added.

Similarly, Maybank Investment Bank Research in a note today said it expected trading with persistent local buying activities ahead March 31, 2014.

The research house sees trading towards the higher resistance zone of 1,852 points to 1,870 points on window-dressing activity.

Across Bursa Malaysia, a total of 1.8 billion shares, worth RM2.0 billion, were traded. Market gainers overtook decliners slightly by 382 versus 380, while 325 counters were unchanged.

The top gainer was Kuala Lumpur Kepong Bhd while the leading decliner was Danainfra Nasional Bhd [S] (0400GB). The most active counter was Malaysian Airline System Bhd.

Reuters reported European equities edged higher at start of trading led by basic resources shares on expectations any move by China to step up infrastructure spending would boost demand for industrial metals.

China's Premier Li Keqiang sought to reassure jittery global investors that Beijing was ready to support the cooling economy, saying the government had the necessary policies in place and would push ahead with infrastructure investment.

Across the region, Japan’s Nikkei 225 was up 0.50% and South Korea’s Kospi rose 0.15%. Singapore’s Straits Times Index closed 0.15% up.

In China, the Shanghai Composite Index ended 0.24% lower but Hong Kong’s Hang Seng closed 1.06% higher.

by **Cals** Fri 28 Mar 2014, 19:50

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28 March 2014 - BC Daily Trading Floor

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