Bourse ends steady after 2 days of falls; banks up, foreigners sell
Saturday, 27 September 2014 00:10
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Reuters: Stocks steadied on Friday after two straight sessions of losses as profit-taking in blue chips offset gains in banking and palm oil shares, while foreign investors sold risky assets.
Stockbrokers expect the rising streak to continue due to lower interest rates and growth optimism. The main stock index ended up 0.01%, or 0.73 points, at 7,233.71, hovering near a more than three-year high close hit on Tuesday.
“There will be a temporary correction with the index moving sideways, but the market will go up for the simple reason that there is no other avenue for people to invest,” said an analyst asking not to be named.
