The FBM-KLCI rose 14.09 at the mid day close where there were 633 counters that recorded gains while on the other hand only 183 counters posted losses with 21 unchanged. The turnover value of Bursa Malaysia was at RM1.61billion with 895.507 million shares traded. The news also invoked positives from around the region with only the Singapore Straits Times Index recorded otherwise where it fell to 2,863.58 points where the country reported that its second quarter’s GDP (Gross Domestic Product) had slowed down to a 0.9% year on year growth. The preceding quarter saw Singapore posted a 9.3% year on year growth. In Japan, the Nikkei was at 9,043.82 points upped by 99.34 points while the Hong Kong Hang Seng Index rose by 632.90 points.
Recently, global steel prices have soared three-fold, and Taiwan’s steel stock prices have almost doubled at least simultaneously. This is a phenomenon that has never