KLCI down 0.54% or 6.95pts to closed at 1276.02 with thin volume (585 million). On the fkli June closed at 1278 or up 6.5 pts. 0.51%. The basis fluctuates wildly; it's been trading at 10 points discount the previous day and closed at 3 points premium yesterday. Total volume transacted stood at 8913 from 9996 on Tuesday. Players on sidelines due to lack of fresh leads and we expect the fkli to be choppy today with basis fluctuate between premium and discount similar to last few day movement.
KLCI and FKLI display great effort determination by maintaining above the 200SMA line, 1270 for KLCI and 1268 for FKLI. We continue to expect the fkli to be trapped in range today with positive bias. For now the fkli needs to overcome the huddle of resistances at 1288-1300 for the bulls to regain control. However. anticipated selling interest to emerge at higher level as sharp premium seems attractive. Market likely to confine in the 1275-1290 ranges for today. For the record, the fkli stuck in the 1270-1285 ranges since beginning of this week. Support is seen at 1275, while resistance at 1293-1300.
US Market
U.S. stocks rallied last night as investors rushed back into beaten down stocks, led by energy, which bore the brunt of the sell off a day earlier. The Dow was up 225.52 points, or 2.25%, at 10,249.54. The Nasdaq was up 58.74 points, or 2.64%, at 2,281.07. Dow was also encourage by U.S data showing pending sales of previously owned homes increased to 6 months high in April.
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The information herein was obtained or derived from the source that we believed are reliable.No liability can be accepted for any loss that may arise from the use of this report.All opinions and estimates included in this report constitutes our judgement as of this date and are subject to change without notice.
U.S. stocks rallied last night as investors rushed back into beaten down stocks, led by energy, which bore the brunt of the sell off a day earlier. The Dow was up 225.52 points, or 2.25%, at 10,249.54. The Nasdaq was up 58.74 points, or 2.64%, at 2,281.07. Dow was also encourage by U.S data showing pending sales of previously owned homes increased to 6 months high in April.
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The information herein was obtained or derived from the source that we believed are reliable.No liability can be accepted for any loss that may arise from the use of this report.All opinions and estimates included in this report constitutes our judgement as of this date and are subject to change without notice.
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