Friday 29 Mar 2024
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TOTAL value for my portfolio fell 0.31% on Friday to RM97,966.70, dragged down by losses on disposal of Farm’s Best. By comparison, the FBM KLCI fell 0.3% to 1,803.65. Market breadth was also negative with decliners outpacing gainers by around 1.4 to 1.

Regional markets traded mixed last Friday, following overnight losses on Wall Street. The Dow Jones Industrial Average fell by 0.65% while the S&P 500 lost 0.49%. Bellwether indices in Japan, Shanghai and Singapore ended in positive territory, while Hong Kong’s Hang Seng Index lost 0.38%. 

In other news, crude oil futures continued to stay sluggish, hovering around US$45 per barrel at the time of writing, due to oversupply concerns after Kuwait’s oil minister expressed OPEC’s intentions to maintain output levels and market share. High levels of inventory in the US as well as Iraq’s rising southern oil exports also weighed on prices.

Meanwhile, the ringgit fell further against the greenback to RM3.74 on fears of a possible credit rating downgrade by Fitch Ratings. This comes amid worries over the impact of low crude oil prices on government revenue, as well as the financial position of 1MDB.

My portfolio is down 2% since inception. Despite the loss, I am still outperforming the FBM KLCI, which loss 4.7% over the same period.

 

• Portfolio will buy stocks with positive momentum on the day

• Stocks in portfolio will be divested when they exhibit negative momentum

• Otherwise, stocks will be divested within a max 4-day holding period

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This article first appeared in The Edge Financial Daily, on March 23, 2015.

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