Thursday 28 Mar 2024
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ON Monday, the portfolio fell as the stock market continued to decline from the previous week, with Asian markets dropping to seven month lows following the major sell-off on Wall Street.

While investors were previously worried about the effects of the tapering of Quantitative Easing in the US, concerns have now shifted to weak global economic growth prospects, particularly in Europe.

The portfolio value went down by 1.66% to RM 102,807 while the FBM KLCI decreased by 0.65%.

Total returns for the portfolio decreased from 4.5% to 2.8%.

The portfolio started on 8 July 2014 with a capital of RM100,000. Since then, it has outperformed the FBM KLCI by 7.9%, and has registered an annualised return of 10.5%.

Total profits currently stand at RM 2,807.

Despite the weak market conditions, two stocks managed to inch up slightly from last Friday, namely Success Transformers Corporation Bhd (+2.3%) and Apex Equity Holdings Bhd (+2.6%). The stocks that did not fare well were ES Ceramics Technology Bhd (-5.6%) and Prolexus Bhd (-5.2%).

I did not undertake any transaction yesterday. Given the prevailing market conditions, I would prefer to adopt a wait and see attitude.

This article first appeared in The Edge Financial Daily, on October 14, 2014.

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