China provides oomph with its weekend announcement to let yuan appreciate “further” ahead of G20 meeting in Canada this weekend. Stronger yuan means bigger buying power…pushing commodity higher especially US$ denominated products.
Regional bullish, near 3%. Dj futs +130. Europe near +1.5%. Ringgit +2%.
Fbm.fkli strong from get-go, a bit stagnant in PM session on profit take but still manage to finish near high on late buying activities. Mkt experience tech breakout above 1330, putting it on another journey towards 1350+ big resistance first before some pullback to close 1320-1330 gap.
Bullish if > 1330.
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