STOCKS on the local bourse rebounded somewhat after 4 consecutive days of losses, which wiped out all gains made since August 2013.

The benchmark index closed 8 points higher at 1,681.90, though this was well off its intra-day high. Wednesday’s rebound may well be just a temporary reprieve, as momentum for oil prices is still biased to the downside and the ringgit remains vulnerable to more selling pressure.

Global financial markets are likely to stay volatile. US markets ended lower overnight. Europe stocks too, opened weaker following bearish economic outlook, including fallout from the turmoil unfolding in Russia. The Russian rouble fell to a record low of 80 to the US dollar on fears that the tumbling oil prices will cut the country’s already diminishing revenue caused by sanctions tied to the Ukraine conflict.

My portfolio returns gained by 0.09% to RM 100,309.90.

The portfolio started on 8 July 2014 with a capital of RM100,000. Since then, it has outperformed the FBM KLCI by 11.4%, and has registered an annualised return of 0.7%.

Total profits currently stand at RM 309.90.

I am still keeping my portfolio unchanged after selling off most of my stocks last Thursday, a decision that turned out to be a good one.

This article first appeared in The Edge Financial Daily, on December 18, 2014.