Custom Search

Friday, April 24, 2009

Market Wrap for Global Market

WEEKLY HIGHLIGHTS
• The KLCI touched a 6-month intraday
high of 942.4 points in tandem with
higher regional markets before closing
at 941.4 points for a gain of 3.8% over
the week.
• Regional markets strengthened on
gains in the U.S. markets and
optimism over the latest Japanese
government’s stimulus package.
• The market is anticipated to move in
tandem with overseas markets as
investors monitor the outlook for the
U.S. credit market, global economic
growth and interest rates.
STOCKMARKET COMMENTARY
The KLCI touched a 6-month intraday
high of 942.4 points on Friday in tandem
with higher regional markets and gains in
selected index stocks. The KLCI closed at
941.4 points for a gain of 3.8% over the
week.
Average daily trading volume increased to
0.9 bil units from 0.6 bil units over the
preceding week while average trading
value rose to RM1.2 bil from RM0.9 bil
over the same period.
On Wall Street, share prices rose to a 2-
month intraday high of 8,087 points on
Thursday following better-than-expected
1Q2009 corporate earnings announced by
a major U.S. financial institution. The
Dow closed at 8,083 points for a gain of
0.8% while the Nasdaq rose by 1.9% to
1,653 points over the week.
U.S exports declined the most in 16 years
by 16.9% in February after contracting by
16.5% in January on lower exports of
industrial supplies, capital goods and
automobiles. Imports contracted by 28.8%
from a decline of 22.8% over the same
period. The cumulative U.S. trade deficit
for the first two months of 2009 narrowed
by 48.6% to US$62.2bil compared to the

No comments:

Post a Comment