Oil prices expected to drop with overthrow of Gadhafi governmentAugust 22, 2011
FBM-KLCI dips to 1,472.16August 23, 2011
Preliminary sentiments and performance of Asian markets were higher than expected after there were speculations that there are some stimulus policies being planned by the United States Federal Reserves to help boost its economy. This helped to gain the investor’s confidence in trading in light of the recent Eurozone debt crisis which many believed was on the verge of worsening.
Tokyo’s Nikkei were up in the morning which was also pretty much the same with regional bourses like the Hang Seng Index as well as the Shanghai A share index. The Singapore Straits Times Index too were up while trading was basically active at the Bursa Malaysia despite the FBM-KLCI recording a minor drop since it opened. The Nymex crudie oil was also higher at 10am at US83.17 per barrel while at 10am, most of the prices for commodities too were favourable. This would be seen as a positive response to the otherwise quite gloomy outlook of the market this week.