Local Market Leads:
♦ Thanks to the last-minute buying on selective heavyweights, the FBM KLCI reversed its earlier selloff and ended in the positive territory for the 12th day in a row on Wednesday.
♦ For the day, the local benchmark inched up 0.72 pt or 0.05% to 1,345.09, after declining about 2.75 pts at one stage.
♦ More encouragingly, the broader market sentiment stayed upbeat with lower liners stealing the trading limelight.
Trading activities were centred on stocks like Supermx (+30sen), Unisem (+14sen), Affin (+13sen) and BjCorp (+9sen).
♦ With stronger participation, turnover increased to 1.13bn shares yesterday. Market breadth stayed positive for the fifth day, with 396 gainers outnumbering 366 losers for the day.
♦ Elsewhere, majority of Asian markets continued their uptrend after the US Federal Reserve hinted of keeping the loose monetary policy for an extended period. Hang Seng resumed trading after a 3-day break by rallying 1.82%, while Singapore’s FTSTI closed up by 0.4%.
Market Technical Reading : A Possible Healthy Retracement Ahead...
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