Local Market Leads:
♦ Bursa Malaysia expanded its recovery leg on Monday in reaction to the positive news that Greece has secured a bailout package, and the US Dow has edged closer to the 11,000 level on last Friday.
♦ According to a news report, European Union (EU) and International Monetary Fund (IMF) have agreed to provide a rescue package worth as much as 45bn euros to Greece, hence reducing its chance of a debt default.
♦ As a result, most Asian markets rallied in the early session before turning mix at the close on profit-taking activities. The SET plunged 3.64% on a deadly political clash over the weekend, while Nikkei 225 retreated from its day high of 11,351.55 to end up only 0.42% to 11,251.90.
♦ Back home, the FBM KLCI continued to edge higher, gaining another 5.63 pts or 0.42% to 1,339.61.
♦ However, sentiment for the day turned more cautious as daily turnover eased to 1.11bn shares from 1.25bn shares on last Friday. Market breadth stayed thinly positive, with 374 gainers outnumbering 367 losers.
Market Technical Reading : Trading To Continue On Healthy Turnover..-13/04/2010
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