Local Market Leads:
♦ Share prices in the local bourse ended lower on Thursday, on weak regional markets sentiment amid continuous retreat in overnight US market, and poor Asian markets’ performance due to weak manufacturing data in China.
♦ China’s Purchasing Managers’ Index (PMI) for Jun fell to 52.1 from 53.9 in May. This points to the Chinese economy slowing down.
♦ China’s SHComp fell 1% and Japanese Nikkei 225 dropped 2% for the day. Hong Kong’s financial market was closed due to a national holiday.
♦ Locally, investors remained largely at the sideline due to the absence of trading leads. Speculative lower liners remain at the top of the most active list, while gaming stocks were hit by the hike in pool betting duties by the Government from 6% to 8% effective from Jun. BjToto, Tanjong and MPHB lost 5sen, 14sen 8sen respectively yesterday.
♦ Turnover eased further to 558m shares from 564m shares a day ago, while market breadth deteriorated as losers led gainers with a ratio of 2 to 1.
Market Technical Reading : The FBM KLCI Likely To Retest 1,300 Soon...-02/07/2010
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