Local Market Leads:
♦ Boosted by a rally in plantation heavyweights as well as the strength on the ringgit, the local market resumed its fresh rally by driving the FBM KLCI to the highest closing since early Mar 2008.
♦ Institutional investors snapped up plantation bellwethers, namely Sime (+13sen), PPB (+60sen) and IOICorp (+8sen), amid expectations of higher crude palm oil prices in the second half of the year.
♦ Aside from the strong interest in plantation sector, banking stocks, proxy to the country’s economic recovery, like CIMB (+14sen) and Maybank (+7sen) recovered after a mild pullback.
♦ Boosted further by the strong ringgit that hit a 4-month high yesterday, the FBM KLCI climbed 10.28 pts or 0.78% to 1,328.22.
♦ Daily turnover increased to 934m shares, up from 798m shares a day earlier. Market breadth turned positive with 451 advancers beating 292 decliners.
Mandarin Version - Market Technical Reading : Resumption Of Upswing Momentum… - 11/03/2010
No comments:
Post a Comment