Local Market Leads:
♦ The local bourse climbed higher for a second day on Wednesday, underpinned by a triple-digit rally on the overnight US DJIA, and the confident comments by the Prime Minister in attracting foreign investment this year.
♦ The PM said affirmative action rules would be more market-friendly, transparent, merit-based to attract foreign investment going forward. He is scheduled to announce the “New Economic Model” by the end of this month.
♦ Upon closing, the FBM KLCI rose another 4.60 pts or 0.35% to end at 1,309.45, with broad-based buying supports on blue chips like CIMB (+26sen) and technology stocks like GTronic (+33sen).
♦ Underlying market sentiment improved despite strong profit-taking pressure in the afternoon session, on sluggish performance in the regional markets.
♦ Regional markets gave up most of their early gains, as jitters increased ahead of an European Union’s special summit to discuss Greek’s debt issues.
♦ Turnover in Bursa Malaysia rose to 1.14bn shares from Tuesday’s 908m shares. There were 453 gainers against
255 losers.
Mandarin Version : Market Technical Reading : Short-term Volatility Likely To Persist...-25/03/2010
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