Weekly Market Review (10 June 2019)

  • Major markets closed mixed last week amid the continuing tension between the US and China coupled with the Eid Mubarak break in certain countries. The DJI staged an impressive rebound of 4.7% or almost 1,200 points to almost 26,000 with the hope that the feds may cut rates again soon.
  • The local bourse experienced a mild profit taking ahead of the Raya break. The FBM KLCI lost a mere 0.4% or 6 points for the week to 1,649.33. Finally, foreign funds flow turned positive for the 2nd week running of RM350.0m with YTD net outflow down to RM4.47bn.
  • Performance amongst the FBMKLCI components saw 9 gainers to 18 losers. Top 3 performers include Top Glove (+1.2%), PPB (+1.0%) and Nestle (+0.7%) while the top 3 losers were Genting (-2.8%), Sime (-2.2%) and SIMEPLT (-1.7%).