Uncharted territory

The Malaysia FBMKLCI finds itself at uncharted territory but without the European and US markets with it.

What is disconcerting today is the high fliers of the FBMKLCI have not been leading the market higher. We are talking about an Axiata or a Public Bank. Public Bank came out with "stellar" earnings yet the market yawned.


We see Genting and MISC, one of the under-performers of the FBMKLCI finish as gainers.

Underneath, we see KFC, KPJ both having problems leading the market. KFC opened at 11.5 to finish at 11.1. KPJ also opened higher then closed lower.

Nestle, perhaps the most dramatic of the high-fliers closed strongly off the highs.



Then, you get an under performing stock like AMMB closing up .6%. While the US close on Friday showed a lot of strength, this is a new week and keeping things in perspective of where the FBMKLCI is in relation to the other indexes will be key. The FBMKLCI is trading at highs while other world indexes are not. Don't buy everything out there.