KLCI trimmed losses (-4.69p to 1470.95p)

KLCI trimmed losses and declined 4.69p to 1470.95p after touching its lowest point of 1457.50p in the morning. Here's 2 reasons why KLCI recovered:
1. French President Nicolas Sarkozy has told Greek Prime Minister George Papandreou that the “only way to resolve Greek debt problems” is through a deal hammered out last wee. My view: this is a strong pressure from France to pressure Greece to just accept the deal. Although uncertainty is still there, it seems like France together with other G-20 countries will put on more pressure on Greece during G-20 summit on 3-5 Nov.
2. There is hope that US Federal Reserve may announced QE3 or something to continue to support US economy as it is scheduled to release its latest policy statement tonight.