STOCKS on the local bourse continued to gain traction, closing higher for the fourth straight day. Market breadth was positive with some 3 stocks rising for every one that fell. The benchmark index ended up 28 points at 1,744. This time last year, the index also rallied — to end the year at 1,867 — before giving back all the gains, and more, in January 2014.
Market sentiment globally calmed, after the recent selloff, following a rebound of sorts in the metals and oil markets. After days of volatility, crude has been climbing for two consecutive days. The benchmark Brent and WTI are now trading near $62 and $58 per barrel, respectively. The US Federal Reserve also reassured investors that it is unlikely to increase interest rates in the near term. Major exchanges in the US, Europe and China all rose.
My portfolio value gained by 0.13% to RM 100,669.90.
The portfolio started on 8 July 2014 with a capital of RM100,000. Since then, it has outperformed the FBM KLCI by 8.5%, and has registered an annualised return of 1.5%.
Total profits currently stand at RM 669.90.
I am still keeping my portfolio unchanged after selling off most of my stocks, pending greater clarity on the market’s direction.
This article first appeared in The Edge Financial Daily, on December 23, 2014.