Local Market Leads:
♦ In line with the weaker regional sentiment, the FBM KLCI finished slightly lower on Friday amid rekindled fears over Greece’s higher deficit and constant debt problem.
♦ Although the US markets managed to engineer an impressive turnaround overnight, regional investors remained cautious, worrying that Greece’s worse-than-expected deficit problem could pose a threat to global economic recovery pace.
♦ Hang Seng dropped for a third consecutive day by another 0.98% on poor regional sentiment and fears of more tightening measures ahead. The SET (-0.87%) and Shanghai Composite (-0.53%) also closed lower.
♦ On the local front, the FBM KLCI eased 0.23 pts or 0.02% to 1,336.78, despite selective heavyweights like MISC (+20sen) and CIMB (+12sen) shining on strong buying support.
♦ But as investors turned defensive ahead of the weekend, turnover eased further to 818m shares. Market breadth turned negative for the first time in four trading days, as 352 losers topped 305 gainers.
Market Technical Reading : Uncertainties Remain For The Near-term Trend...-26/04/2010
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