1400 and climbing. The strong results from Maybank and expectations of another solid quarter for the earnings of banking stocks in general drove the KLCI to a high of 1403.31. At the close, the benchmark index gained over 8 points to finish above 1400. Major headlines for today : (i) Proton’s 1Q net profit rose over 50% y-o-y, (ii) TM’s 1HFY10 earnings fell >50% y-o-y, and (iii) QL acquires a 23.3% stake in Lay Hong through an off-market deal. With a few more big caps slated to announce their results later this week, there is further upside bias on the market although expectations are for the current range bound trading pattern to hold. We advise investors to buy big and sell small in line with the view espoused in our monthly strategy to focus on the former for now. Immediate resistance for the KLCI moves to 1436.
*Terkini – Jadual Seminar & Bengkel PUABUMI 2012
5 years ago