Local Market Leads:
♦ Local bourse eased lower for a second day on Thursday, as investors stayed sideline ahead of the Central Bank’s interest rate decision on yesterday’s evening.
♦ Apart from that, cautious sentiment also grew in response to the weak regional sentiment amid fears of slower lending growth in China as well as a possible tightening measures could be introduced by Beijing in the upcoming annual session of China's National People's Congress.
♦ Shanghai Composite led the selldown with a 2.38% drop, while Hang Seng (-1.44%) and Nikkei 225 (-1.05%) both closed negative for the day.
♦ Back home, the FBM KLCI dipped 2.01 pts or 0.16% to 1,284.09 with lower trading volume at 727m shares. Market breadth stayed negative for the sixth straight day, as losers topped gainers by 385 to 281.
♦ After the close, Bank Negara announced to hike the overnight policy rate (OPR) by 25 bps to 2.25%, as expected. The Central Bank added that the GDP growth is expected to strengthen further.
Market Technical Reading : Stronger Buying Momentum On The Bluechips…- 05/03/2010
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