Local Market Leads:
♦ Boosted by robust rotational plays across the board, the bulls pressed ahead, driving the FBM KLCI to its highest closing since end-Feb 2008.
♦ With the overnight US markets ending at its 18-month high, plus the strengthening ringgit to a 21-month high, investors snapped up stocks, ranging from key blue chips, like Tenaga (+28sen) to the lower liners like KNM (+4sen) and Scomi (+2.5sen).
♦ Despite a mild retreat from a multi-month high of 1,346.23, the FBM KLCI managed to end positively for the eleventh day, adding another 2.62 pts or 0.20% to 1,344.37.
♦ Turnover increased to 1.12bn shares amid growing speculative interest, despite an Unusual Market Activity (UMA) query on Haisan (-7.5sen). The stock was suspended in the late afternoon session. There were 406 counters up, against 369 counters down for the day.
♦ Elsewhere, most regional markets ended higher on positive US economic data, while overlooking another 0.25% interest rate hike by the Reserve Bank of Asutralia.
Mandarin Version : Market Technical Reading :Further Upside Potential... - 07/04/2010
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