Friday 29 Mar 2024
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BUCKING the regional downtrend, the FBM KLCI rose over 0.02% on Tuesday, helped by gains in select index-linked heavyweights despite the weak broader market.  

The benchmark index added 0.41 points to close higher at 1,811.990. Market breadth was positive, with gainers nearly outperforming losers.

The bellwether indices for regional markets closed mostly in the red, except for China and Hong Kong. Most had tracked Wall Street, where the Dow Jones Industrials Average and the S&P 500 indices had closed 0.53% and 0.52% lower.

Meanwhile, China stocks rose on speculation of further monetary easing policies following the recent weaker spate of economic data, including the latest statistics showing inflation hitting a five-year low. Meanwhile, crude oil ended its recent rally, but still stayed above the US$50 per barrel mark. Brent crude traded at $57.66 while WTI was at $52.27 per barrel at the point of writing.

Yesterday, I added shares in the following companies which were picked by our algorithm after exhibiting positive momentum.

Focus Lumber Bhd: 5,800 shares at RM1.19. The stock closed higher at RM1.23.

Heveaboard Bhd: 2,800 shares at RM2.48. The stock closed higher at RM2.49.

Malaysian Pacific Industries Bhd: 1,200 shares at RM 5.87. The stock closed lower at RM 5.75.

I continue to hold Hovid (-1.1%) and TMC Life Sciences (-2.1%), both bought on Monday.

My portfolio, which started on with RM100,000 is currently registering a small gain of 0.7% since inception, but has still outperformed the benchmark KLCI by 4.9%.

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This article first appeared in The Edge Financial Daily, on February 11, 2015.

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