Local Market Leads:
♦ Lifted by a triple-digit rally in the US DJIA overnight and easing concerns over the Greece debt crisis, strong buying on heavyweights propelled the FBM KLCI to a fresh year high on Friday.
♦ Upon closing, the local benchmark shot up 10.52 pts or 0.79% to 1,346.38, as institutional investors snapped up core blue chips, including Maybank (+18sen), Axiata (+12sen) and Genting (+24sen).
♦ This successfully buoyed the local market sentiment, which tracked closely to the overnight US rally amid strong quarterly earnings and news that Greece was getting closer to secure its bailout aid soon.
Market Technical Reading - A potential “double top” formation...- 3/4/2010
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