Malaysia Market Watch 16th July 2012
The FTSE Bursa Malaysia KLCI rose by six points to close at 1,626.38 points last week, with the local bourse’s total market capitalisation increasing by about RM5 billion to RM1.39 trillion. It also hit its new high at 1,629.45 on Wednesday.
This week, analysts expect the index to trade around the 1,640 and 1,610 level.
“The market will be hoping to see what the US authorities will do to boost economic growth,” said the analyst.
US Federal Reserve Ben Bernanke is expected to deliver his semi annual monetary policy report to the Senate and House committee tomorrow and Wednesday – during which, investors will be paying close attention on possible hints of another stimulus package.
Investors will also be keeping a close watch on corporate earnings results in the US. A slew of companies are set to report corporate results this week. About one-third of the Dow Jones Industrial Average and almost one-fifth of the S&P 500 companies are expected to announce their quarterly numbers this week.
On the local front, among companies that investors will be watching include ACE-listed AT Systematization Bhd (ATS) after announcing its venture into the energy business with a Chinese company, Media Chinese International Ltd (which announced the trading suspension of its shares), among others. – Business Times