KLCI likely to start 2015 on cautious note

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KUALA LUMPUR (Jan 2): The FBM KLCI will likely start 2015 on a cautious note today after having fallen 5.66% year-on-year in 2014, losing more than 105 points along the way.

The steep decline in crude oil prices as well as lingering concerns over Malaysia’s and the global economic growth concerns kept investors on the sidelines for much of December.

Meanwhile, the outflow of foreign fund from Malaysian equity doubled to RM6.8 billion year-to-date as at Dec 26 this year, compared to an inflow of RM3 billion in 2013, according to MIDF Research.

However, China and the United States headed the list of 2014 top-performing equity markets among larger economies while crude oil prices closed in the red to cap a massive yearly slump, according to Reuters.

The U.S. dollar on Wednesday added slightly to gains that have made it the year's star major currency, it said.

On Wall Street, stocks fell on Wednesday but the S&P 500 closed 2014 near its record high. The index hit records in more than 50 sessions throughout the year, said Reuters.