Local Market Leads:
♦ Dragged down by another wave of profit-taking activities across the regional markets, as well as a 0.89% slide in the KL futures market, the FBM KLCI ended the recent rebound and closed lower on Tuesday.
♦ Despite a successful crossover of the US Dow to above the 11,000 psychological level for the first time since Sep 2008 overnight, most Asian bourses ended lower on cautious note after US’ Alcoa kicked off the US earnings season with a lacklutre performance.
♦ Besides, some weakness on the ringgit in response to China’s president Hu Jintao’s omment over the yuan also encouraged some profit-taking activities in the equity market. Hu said China would stick to its own path for the yuan reform. The comment has cooled off investors’ enthusiasm over a possible appreciation in the yuan.
♦ And as the FKLI tumbled 12.00 pts, the FBM KLCI fell 5.09 pts or 0.38% to 1,334.52. Turnover dwindled further to 1.03bn shares from 1.11bn shares earlier. There were 494 decliners versus 238 advancers.
Mandarin Version - Market Technical Reading : Crucial To Reclaim The 10-day SMA To Sustain The Upward Momen...
No comments:
Post a Comment