Local Market Leads:
♦ Led by follow-through buying supports on blue chips, the FBM KLCI extended its uptrend for the ninth consecutive day on Friday, amidst most of the regional markets closed for a public holiday.
♦ The strengthening of ringgit to its highest level since Aug 2008 at 3.2460 against the greenback on Friday also fuelled further buying in the local equity market.
♦ While most investors stayed sideline observing the Good Friday, as well as the cautious sentiment ahead of the release of the US monthly jobs reports on Friday night, stocks like the Government-linked companies (GLCs), technology and rubber glove-related stocks continued to attract buying momentum.
♦ As a result, the FBM KLCI finished at its highest level since end Feb 2008 at 1,335.94 with a rise of 6.10 pts or 0.46%.
♦ Turnover remained sluggish at 828m shares, against Thursday’s 807m shares. Market breadth stayed positive, with 430 gainers topped 244 losers.
Market Technical Reading : Medium-term Bullish Despite Short-term Volatilities...05/04/2010
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