QDII boost? Despite a triple-digit loss on the Dow, the FBM KLCI managed to chalk up a 6-pt gain to 1329 points although volume remained relatively thin at 685m shares. Gainers beat losers by 360 to 274. Today’s news headlines are the US Federal Reserve decides to keep short-term interest rates near zero for an extended period, the Securities Commission says that China’s banking regulator has recognised Malaysia as an approved investment destination for the QDII scheme, domestic steel usage to grow at 5%, according Malaysian Iron & Steel Industry Federation, Swiss supermarket chain giant Migros said it will not stop buying palm oil from IOI Corp without first seeking clarification on land grab and forest burning, Kenmark receives letter of demand for RM50.9m, and Sunway may build a RM1bn university hospital. Overnight, the US market was flat while Europe was down 1% to 1.7% and crude oil was lower at USD76.35. Sentiment on the local market could be boosted by news of the QDII fund especially without any heavy decline on the Dow. However, resistance lies at 1334 pts, which could limit the upside.
*Terkini – Jadual Seminar & Bengkel PUABUMI 2012
4 years ago