1. Foreign investor trading was actually at net selling of RM85m last Friday despite the increase of 15 points. Unless foreign investor come in strongly, it may be hard for KLCI to continue its uptrend.
2. Uncertainties in Europe has spread to Italy. As Italy's bond yield has increased above 6%, the market will be watching closely whether it will hit 7%. (This is the level that requires Portugal, Ireland and Greece to start receiving bailout). The market will watch closely the outcome of today's vote on the 2010 budget report.
3. From technical view, KLCI will need to retest 1500 level this week after failing to do so last week. As the RSI is at 59.5 (70 is the overbought level), it appeared that index needed more momentum to surpass 1500.
This blog is related to observations regarding stocks traded in Malaysia. Disclaimer: The company analysis that appear in this blog is merely facts gathered from different sources and the author's personal view. It is not a buy or sell recommendation. The author do not guarantee the accuracy of the facts being presented. Please consult your investment advisors before acting on any information provided by the analysis above.
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