Mandarin Version - Market Technical Reading : Investors Should Continue To Sell Into Strength... - 09/06/2010

Local Market Leads:
♦ Bursa Malaysia alongside other regional markets turned higher on Tuesday, as investors were motivated by US Federal Reserve chairman Bernanke’s comments over the US economic recovery prospects.
♦ Earlier, most Asian indices opened lower after another triple-digit loss on the overnight US DJIA. But sentiment gradually improved after Bernanke said the US economic recovery remains intact.
♦ This lifted the US futures markets, and paved the way for mild recovery in Asian markets. Among the standouts were KOSPI and Hang Seng, which advanced 0.83% and 0.56% respectively.
♦ Locally, mild buying support emerged on Maybank (+8sen) and Genting (+10sen), prompting the FBM KLCI to inch higher. But it settled at 1,288.18 with a mere 1.91 pts or 0.15% gain, as the early declines in the European markets triggered late profit-taking activities in late afternoon session.
♦ Despite strong speculative interests on selective lower liners like IRCB (+12sen) and KEuro (+7sen), overall market volume remained tepid at 521m shares. Nonetheless, market breadth turned slightly positive, as winners outnumbered losers by 349 to 271.

Mandarin Version - Market Technical Reading : Investors Should Continue To Sell Into Strength... - 09/06/2010