Local Market Leads:
♦ The FBM KLCI traded narrowly within a 3-point range on Friday, fluctuating between an intraday low of 1,313.06 and an intraday high of 1,315.14. The index ended the week at its highest point in two weeks.
♦ While the index gained marginally, the lower liners rallied on strong speculative interests, ahead of this Tuesday’s Invest Malaysia conference. The Prime Minister Najib is expected to announce further liberalisation plans in his New Economic Model at the conference.
♦ Stocks like UEMLand (11sen), DRBHcom (15sen), and Proton (26sen) gained, while recent gainers like the oil and gas and technology related stocks retreated on swift profi-taking activities.
♦ As a result, the FBM KLCI inched up 2.66 pts or 0.2% for the day.
♦ Daily turnover stayed almost flat with 1,25bn shares changing hands. Market breadth stayed positive, with 517 gainers versus 238 losers.
Market Technical Reading : Revisiting The Recent High Of 1,334.34 Soon...-29/03/2010
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