Local Market Leads:
♦ Bursa Malaysia finally snapped the recent pullback by staging a mild technical rebound yesterday, as investors tracked the regional markets’ rally on the US Federal Reserve’s decision to keep its ultra-low interest rates for an extended period.
♦ However, the local market pared down its gains, due to renewed selling pressure in selected blue chips, namely Maybank (-2sen), YTL (-4sen) and Maxis (-1sen).
♦ At the close, the FBM KLCI successfully reclaimed the 1,300 psychological level by ending 3.09 pts or 0.24% higher at 1,301.95. Still, the closing was well off its day high of 1,307.08.
♦ Daily turnover improved to 742m shares, versus 679m shares a day earlier. Market breadth turned positive for the first time in five trading days, as counters up topped counters down by 405 to 268.
♦ Regionally, KOSPI and Shanghai Composite ranked among the top regional performers, soaring 2.12% and 1.93% after the US Fed pledged to maintain its easy-monetary policy on early Wednesday.
Market Technical Reading : Stay Cautious Pending Clearer Technical Signals...-18/03/2010
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