Weekly Market Review (16 March 2020)
Mon, Mar 16, 2020 10:32 AM
- Major global indices fell sharply for the week with the Dow Jones losing over 665 points and ended at 23,185.6. President Trump declared national emergency while Federal Reserve cuts rates to zero to calm down on the financial markets and economy.
- Asian equities mirrored the bearish trend with Thailand’s SET Index being the top losers (-10.1%).
- On local front, FBM KLCI finished 5.6% lower to 1,344.8. Weekly foreign funds were hugely negative, posted net outflow of RM1.9bn on top of the year-to-date massive net outflow of RM5.2bn.
- There were only 3 gainers in FBM KLCI last week against losers of 27. The performers were MISC (+11.28%), DIALOG (+5.61%) and TOPGLOVE (+2.13%). Top 3 losers were HAPSENG (-14.25%), PMETAL (-14.06%) and HLBANK (-12.27%).
