Local Market Leads:
♦ Asian markets, including Bursa Malaysia bore the brunt of another fresh selling wave on Thursday, after attempted to halt the recent slide by staging a mild rebound in the early session.
♦ Selling activities returned on concerns over uncertainties in the Eurozone as well as renewed geopolitical tension in Korean peninsula after South Korea accused North Korea of torpedoing its warship in Mar.
♦ But thanks to the timely rebound in the key European markets, most Asian markets closed off low for the day. Hang Seng ended down 0.17% to 19,545.83, but well off a low of 19,276, its lowest level since July 2009.
♦ Similarly, the benchmark FBM KLCI dropped 4.07 pts or 0.31% to 1,304.16 on late bargain-hunting support, after hitting a fresh 2-month low of 1,300.44 at one stage.
♦ Turnover eased to 765m shares versus Wednesday’s 782m shares. There were 449 losers against 250 gainers.
Mandarin Version - Market Technical Reading - A “Dead Cross” Suggests Bearish Medium-term Outlook... - 21/5...
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