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.
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.
No comments:
Post a Comment