At around 930am, the market picked up strongly and gained 13.70 points as of 9.48am.
It is quite unusual to see sudden surge within 5 minutes time (Picture Source: Nextview):
The leading mover include:
i) CIMB (+11 sen to RM8.68), Index contribution: + 1.585 points
ii) MAYBANK (+10 sen to RM8.59), Index contribution: + 1.4195 points
iii) GENTING (+16 sen to RM10.96), Index contribution: + 1.1518 points
At a glance, it seems that Finance Sector led the index surge at it gained 143.61 points or 1.04% to 13949.62 point, which is the best sector performance for today as of time of writing.
There's also news from Reuters that Japan output rises for the 1st time in 6 months. Read the full Reuters article here
My view on the sudden surge
Foreign funds may be coming into South East Asia again after China increase its interest rate by another 25bp over the weekend. Despite Nikkei down 40 points and Hang Seng drop 70 points, South East Asia market are all up. E.g. Straits Times Index +10p, Jakarta +14p and Philippine flat.
Hopefully the increase is sustainable and flow over to other stocks as well. Let's wait and see how KLCI ends for 2010...
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