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Article: FBM KLCI ripe for correction
- Article from:
- New Straits Times
- Article date:
- August 17, 2009
- Author:
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Kaladher Govindan
New Straits Times
08-17-2009
FBM KLCI ripe for correction
Byline: Kaladher Govindan
Edition: Main/Lifestyle
Section: Business Times
Column: Market outlook
Type: Market
RESURGENT rotational buying of lower liners and better-than- expected economic data from US, Europe and Asia managed to lift the local stock market and the FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) for a fifth straight week of gains to track a 13-month high. Plantation stocks led the way as investors increased their bet that commodities will see a revival in demand with the eurozone registering better-than-expected gross domestic product growth in the second quarter and China's resilient retail ...