Regional drag. Profit-taking set in yesterday, dragging the FBM KLCI down by 7 points to 1334 points, led by Tanjong, Genting, CIMB and YTL. Regional markets were also weaker, with the Nikkei and the Hang Seng Index losing 1.1% and 1.5% respectively while the Shanghai Composite lost 1.9%. Today’s news headlines are China's GDP grew by 11.1% in 1H this year, the Malaysian Government cuts subsidy on fuel, cooking gas and sugar, Datuk Mohd Bakke Salleh is appointed Sime Darby's CEO with immediate effect while Datuk Sabri Ahmad takes over as Felda Holding's MD. The US market clawed back and ended flat last night after losing more than 100 points in early trading while European bourses were in pullback mode. Should the FBM KLCI weaken further and break its immediate support level at 1332 points, the next support is seen at 1326 points.
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Friday, July 16, 2010
Market Review
Regional drag. Profit-taking set in yesterday, dragging the FBM KLCI down by 7 points to 1334 points, led by Tanjong, Genting, CIMB and YTL. Regional markets were also weaker, with the Nikkei and the Hang Seng Index losing 1.1% and 1.5% respectively while the Shanghai Composite lost 1.9%. Today’s news headlines are China's GDP grew by 11.1% in 1H this year, the Malaysian Government cuts subsidy on fuel, cooking gas and sugar, Datuk Mohd Bakke Salleh is appointed Sime Darby's CEO with immediate effect while Datuk Sabri Ahmad takes over as Felda Holding's MD. The US market clawed back and ended flat last night after losing more than 100 points in early trading while European bourses were in pullback mode. Should the FBM KLCI weaken further and break its immediate support level at 1332 points, the next support is seen at 1326 points.
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