Chart 1: FBMKLCI's daily chart as at Mar 23, 2018 (Source: Shareinvestor.com)
Chart 2: FBM70 & FBMSCAP's daily chart as at Mar 23, 2018 (Source: Shareinvestor.com)
Chart 3: FBMACE & FBMFLG's daily chart as at Mar 23, 2018 (Source: Shareinvestor.com)
If you go thru the individual sector indices, you will notice that Finance and Consumer indices have gone up steadily or sharply, while Technology, Construction & Property indices have dropped substantially. It is quite possible that the gainers in our market have benefited from buying from local funds for political reason. Otherwise the stock market truly reflects the state of our economy; where retail players are just as tapped out as the man in the street. Until our economic growth expands widely and begins to fill the coffers of the man in the street, we probably will have to wait for a long time for the bulls to come back in our market.