The FBM KLCI rebounded by 7.95 pts yesterday following close to a cumulative 20 ptdrop over the past few days. However, sustainability of this bounce will be tested today. Key indices in the US market dropped more than 1% overnight, suffering the worst single-session drop in two months as Apple forecast profit that missed estimates and concerns on US housing foreclosures re-emerged. Overnight, the USD - which recorded its best gains in two months - exacerbated the weakness in US equities. Elsewhere, China raised its benchmark lending and deposit rates for the first time since 2007 after August inflation accelerated to the fastest pace in 22 months. Resistance is expected at the 1500-point psychological level while immediate support lies at 1479 points.
*Terkini – Jadual Seminar & Bengkel PUABUMI 2012
4 years ago