KUALA LUMPUR (Dec 26): The FBM KLCI is likely to be muted today, given the relatively flat US and global markets on Christmas eve.
U.S. shares extended a five-day winning streak on Wednesday after the latest data showed strength in the world's largest economy, while a mixed economic picture in Europe kept the region's stocks largely in check, according to Reuters.
Oil prices resumed declines as an unexpectedly large build in U.S. crude stockpiles added to worries about a supply glut, it said.
The latest U.S. data reassured investors eager to lock in last-minute investment gains in the U.S. stock market that indexes were poised to head higher into the end of the year, said Reuters.
Investor activity at Bursa Malaysia would likely be kept under the lid given the prevailing holiday mood as most retail investors wind down for the year.
The lack of fresh catalysts would also pose a hindrance for the local index to climb further, compounded by weaker 1H2015 outlook painted by several analaysts in recent weeks.
December has so far seen the FBM KLCI shave 71.15 points off the index as well as losing a market capitalisation of some RM91.44 billion as ar Dec 24.
The index could hover around the 1,750-point level on Friday, heading into the weekend.