Potential consolidation. Yesterday, encouraged by the Dow's 93-point overnight gain, the FBM KLCI rallied another 18.47 points to close at another record high of 1551.89 points. Market breadth was decidedly positive, with 637 gainers against 233 losers. Overnight, the Dow inched up marginally by 20 points but the FTSE rallied by 1.9% while other European bourses rose marginally. Commodities suffered a sell-off last night, with crude oil falling by USD2.35 per barrel to USD89.20. Most other commodities were also lower but the biggest losers were metal, with gold falling 3% and silver, 5%. There was little in terms of news, but with overseas market holding up, the upward momentum should continue to carry local stocks higher in the morning session although profit-taking could set in subsequently after 2 straight days of strong gains.
*Terkini – Jadual Seminar & Bengkel PUABUMI 2012
4 years ago