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NewsBIMB Research sees KLCI rebounding, test 1,630
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BIMB Research sees KLCI rebounding, test 1,630
by hlk Fri 27 Jul 2012, 11:53
KUALA LUMPUR: BIMB Securities Research expects the FBM KLCI to stage a rebound on Friday with the 1,630 as the immediate resistance level but should be restricted ahead of the weekend.
On Thursday, key regional markets were mixed while the KLCI fell 11.18 points to 1,623.91 possibly due to profit taking on recent star performers..
In its market outlook issued on Friday, BIMB Research said global equities and bonds surged following an encouraging statement from ECB's President Mario Draghi on the Euro zone.
The research house said whilst the 10-year yield of both Spain and Italy declined to more manageable levels after touching an all time high two days ago, equities also enjoyed broad based buying.
On Wall Street, the DJI Average gained 212 points to 12,888 with European markets also surged across the board.
“Though we welcome such confident statement, action still speaks louder than words” hence we would prefer to wait if the ECB will follow up with some policies,” it said.
On Thursday, key regional markets were mixed while the KLCI fell 11.18 points to 1,623.91 possibly due to profit taking on recent star performers..
In its market outlook issued on Friday, BIMB Research said global equities and bonds surged following an encouraging statement from ECB's President Mario Draghi on the Euro zone.
The research house said whilst the 10-year yield of both Spain and Italy declined to more manageable levels after touching an all time high two days ago, equities also enjoyed broad based buying.
On Wall Street, the DJI Average gained 212 points to 12,888 with European markets also surged across the board.
“Though we welcome such confident statement, action still speaks louder than words” hence we would prefer to wait if the ECB will follow up with some policies,” it said.
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Re: BIMB Research sees KLCI rebounding, test 1,630
by Cals Fri 27 Jul 2012, 12:14
+ for market insight
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