Tong’s Momentum Portfolio - Jan 2, 2015
ASIAN markets ended the year mixed as US stocks dropped, led by technology and utility companies. At the closing bell on Tuesday, the Dow and the S&P 500 closed down 0.31% and 0.49% respectively.
In China, the Shanghai Composite Index settled at the highest level since January 2010 despite slowing economic growth. The index rose 2.18% to close at 3,234.68.
Oil prices continued to decline amid worries of inundated supply going into 2015. Brent crude and WTI crude are now hovering around $57 and $53 per barrel, respectively (at the time of writing). Crude prices are likely to remain low for a considerable period and this will pose a risk to Malaysia’s economy and government finances.
At home, the local bourse extended its losses on the last trading day of 2014, with the FBM KLCI declining 0.32% to close at 1,761.25. Market breadth was neutral with 394 losers and 391 gainers.
For the full year, the benchmark index ended 5.66% lower.
Meanwhile, the ringgit ended 2014 at a five-year low, after losing nearly 7% of its value during the year. The currency was trading at around 3.50 per US dollar, a five-year low. The ringgit is still exposed to huge outflows in 2015, as foreign funds held over 40% of Malaysian government securities.
My portfolio started on 8 July 2014 with a capital of RM100,000. Since then, it has outperformed the FBM KLCI by 8.1%, registering an annualised return of 2.3%.
Willowglen, the only stock held in the portfolio, rose 4.2% to 75 sen.
http://www.theedgemarkets.com
ASIAN markets ended the year mixed as US stocks dropped, led by technology and utility companies. At the closing bell on Tuesday, the Dow and the S&P 500 closed down 0.31% and 0.49% respectively.
In China, the Shanghai Composite Index settled at the highest level since January 2010 despite slowing economic growth. The index rose 2.18% to close at 3,234.68.
Oil prices continued to decline amid worries of inundated supply going into 2015. Brent crude and WTI crude are now hovering around $57 and $53 per barrel, respectively (at the time of writing). Crude prices are likely to remain low for a considerable period and this will pose a risk to Malaysia’s economy and government finances.
At home, the local bourse extended its losses on the last trading day of 2014, with the FBM KLCI declining 0.32% to close at 1,761.25. Market breadth was neutral with 394 losers and 391 gainers.
For the full year, the benchmark index ended 5.66% lower.
Meanwhile, the ringgit ended 2014 at a five-year low, after losing nearly 7% of its value during the year. The currency was trading at around 3.50 per US dollar, a five-year low. The ringgit is still exposed to huge outflows in 2015, as foreign funds held over 40% of Malaysian government securities.
My portfolio started on 8 July 2014 with a capital of RM100,000. Since then, it has outperformed the FBM KLCI by 8.1%, registering an annualised return of 2.3%.
Willowglen, the only stock held in the portfolio, rose 4.2% to 75 sen.
http://www.theedgemarkets.com