- In tandem with weaker U.S. markets, the FBM KLCI eased to a six-week intraday low of 1,632.0 points on Thursday before closing at 1,641.1 points to register a weekly loss of 0.9%.
- Most regional markets registered losses on concerns that the outlook for the U.S. economy will be adversely affected if the U.S. Congress fails to defer the US$600bil of tax hikes and spending cuts due to take effect on 1st January 2013.
- Looking ahead, the local market is anticipated to remain volatile as investors monitor the trend in global economic data and the outcome of negotiations over the looming fiscal cliff issue in the U.S.
