FBM KLCI poised to trend higher

The FTSE Bursa Malaysia KLCI (FBM KLCI) is likely to trend higher next week on global equity upside momentum, a stronger Wall Street and the fall in oil price.

Dr Nazri Khan, vice president, head of retail research of Affin Investment Bank, said on the technical front, the key index was still holding above the 20-, 50- and 200-day moving averages.

"This suggests that the longer-term uptrend remains intact and the local benchmark is poised for the next upleg at 1,600," he said.

Nazri expected the bulls to remain in control with support levels pegged at 1,565 and 1,550 and resistance sighted at 1,580 and 1,600 level.

He said the market was now likely to reverse higher on improvement in the eurozone liquidity and the absence of US double-dip recession.

For the week just-ended, Bursa Malaysia showed a mixed trend as investor sentiment was listed by improved US economy outlook and dragged by concerns on China's growth outlook.

On a Friday-to-Friday basis, the benchmark FTSE Bursa Malaysia KLCI fell 7.6 points to 1,571.4 previously.

The Finance Index rose 331.14 points to 14,192.65, Industrial Index declined 49.97 points to 2,815.73 and the Plantation Index fell 54.8 points to 8,576.19.

The FBM Emas Index gained 52.73 points to 10,845.83, FBM Ace Index eased 45.6 points to 4,664.76 and the FBM Mid 70 Index fell 51.3 points to 12,145.61.

Total weekly volume decreased to 7.479 billion units worth RM8.609 billion from 7.556 billion units worth RM8.631 billion last week.

The Main Market turnover fell to 5.257 billion shares worth RM8.387 billion from 5.446 billion shares worth RM8.32 billion previously.

Volume on the ACE market dropped to 1.816 billion units valued at RM247.438 million from 1.528 billion units valued at RM301.55 million last Friday.

Warrants rose to 1.143 billion shares worth RM47.533 million from 566.672 million shares worth RM85.524 million previously. -- Bernama

any reason so many articles from them saying good good...

[You must be registered and logged in to see this link.]

how to go higher when epf keep selling ?

[You must be registered and logged in to see this link.]

go to malaysian insider...search 'EPF'....see how much funds are needed to be loaned to the 'goburnmen'....why won't have to sell sell sell...
they need billions!

give hlk total 6 rep for hardworking in posting news

maxims wrote:give hlk total 6 rep for hardworking in posting news

tks 4 coming back 2 lead BC ... +1 = 2009