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[KLCI] KLCI MARKET FORECAST FOR WEEK AHEAD

KLCI MARKET FORECAST FOR WEEK AHEAD

The KLCI index is expected to trade with bearish sentiments in coming week if the market will break the level of 1625 in coming trading session. The dropping crude oil price and concerns over the China economy slowdown can keep the investors sentiment cautious and that defensiv sentiments may hold the market to give some good movement in coming week.

GLOBAL FACTORS AND WORLD AFFECTING KLCI

✔ Asian stocks slumped to 3-1/2-year lows on Friday as brief gains earlier in the session gave way to renewed pressure on oil prices and disappointing Chinese data, ratcheting up investor concerns about the global economy.MSCI's broadest index of Asia-Pacific shares outside
Japan declined 0.7 percent to the lowest level since June 2012, and was on track for a loss of 3.2 percent for the week.

✔Shanghai stocks closed down 3.55 per cent on Friday, hit by worries over China's slowing growth ahead of the release of gross domestic product figures next week.

✔A brief rally in Tokyo shares fizzled by the end of trading on Friday, dragging the market to its lowest close in more than three months as a stronger yen dented exporters.The Nikkei 225 index fell 0.54 per cent, or 93.84 points, to 17,147.11.

✔Once more, a massive double-digit surge in motor vehicle sales pulled up Singapore's retail sales in November. In year-on-year terms, retail sales grew 4.7 per cent, according to data released by the Department of Statistics on Friday.


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