Friday 29 Mar 2024
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Insider Asia

SHARES on the local stock market bucked the regional market’s downtrend on Thursday. The FBM KLCI was up 14 points on positive market breadth. There were 3.6 gainers for every one losing stock. We attribute this to the market catching up to gains after being closed for trading Wednesday. Trading volume was, however, relatively low at 1.6 billion shares.

The market is likely to experience more volatility in the coming days. Case in point, Wall Street succumbed to profit taking on Wednesday, breaking a three-day rising trend.

Investors remain preoccupied with worries over slowing global economic growth. A reading of the latest China PMI shows factory output growing at the slowest pace in five months, further fueling such concerns.

My portfolio’s value rose by 1.59% to RM104,571, better than the benchmark index’s 0.81% increase. All the stocks posted increases in share prices, save for Apex Equity Holdings, whose share price remained unchanged.

The portfolio started on 8 July 2014 with a capital of RM100,000. Since then, it has outperformed the FBM KLCI by 8.9%.

Total returns for the portfolio currently stand at RM4,571.

Some of the big gainers yesterday were Homeritz Corp Bhd (+6.1%) and Prolexus Bhd (+3.3%).

I kept the portfolio unchanged.

 

This article first appeared in The Edge Financial Daily, on October 24, 2014.

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