Local Market Leads:
♦ The FBM KLCI staged a surprise comeback and surged to above the 1,300 psychological level on Tuesday, on the overnight US markets’ strength as well as a 1.4% rally on the KL futures index.
♦ Also, investors were generally optimistic that Bank Negara’s Annual Report released today would contain positive views for the country’s current economic outlook.
♦ As a result, the FBM KLCI bounced back by 11.20 pts or 0.87% to end at 1,304.85.
♦ The recent underdogs, including heavyweights like Maybank (+13sen) and Sime (+10sen) lifted the market higher. Other cyclical issues, like glovemakers and Sarawak-related stocks also attracted firm trading interests.
♦ There were 908m shares changed hands, against Monday’s 675m shares. Market breadth turned positive, as gainers topped losers by 447 to 253.
♦ Elsewhere, the regional markets finished mixed. The FTSTI rose 0.57%, while SHComp dipped 0.70%.
Mandarin Version - Market Technical Reading : Expect Some Profit-taking Activities Today...-24/03/2010
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