Local Market Leads:
♦ The FBM KLCI snapped the recent winning streak, ended lower on profit-taking pressure yesterday, after China economy showed signs of slowing down and the Federal Reserve cut its forecast for the US GDP growth this year.
♦ China’s GDP expanded 10.3% yoy in the second quarter, from the first quarter's 11.9%. The growth also missed the market expectation of a 10.5% rise. Meanwhile, confidence was further undermined by the Fed’s downgrade on the US economic outlook.
Market Technical Reading - Good Support Seen At The 10-day SMA...- 16/7/2010
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