Local Market Leads:
♦ Undermined by the T+4 forced-selling activities from Monday’s 1.16bn shares, Bursa Malaysia took another hard beating on Friday.
♦ With investors bashing down index-linked big caps, including CIMB (-20sen), Maybank (-9sen) and Sime (-9sen),the FBM KLCI dived another 10.23 pts or 0.77%, ending the week at 1,311.20.
♦ In fact, despite a third day of rebound in the overnight US markets, cautious trading sentiment in most Asian markets have forced local investors to lock in their recent profits ahead of the weekend.
♦ China’s Shanghai Composite dipped 1.24% on persistent worries of possible monetary tightening measures ahead,but Nikkei 225 rose 0.81% on speculation that the Bank of Japan (BoJ) might introduce additional monetary easing steps during this week’s meeting.
♦ Turnover decreased to 716m shares, lower than 792m shares a day earlier. Market breadth stayed negative with 436 losers beating 247 gainers.
Mandarin Version - Market Technical Reading : Revisiting The 1,300 Stronghold... - 15/03/2010
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