Monday, May 18, 2009

MarketWrap : FKLI not so bearish after all….or not yet!


Negative but both klci.fkli performed better that expected thanks to external factors. - Regional : morning down on DJ and afternoon up on China. HS did a ‘V” bounce from –230 to +230 in PM. Plus India’s Sensex up 17% following a sweeping election victory for the ruling coalition.

KLCI managed to absord selling pressure near 1000 before bouncing. FKLI crawled back above 1000 but cautious tone remains. Quiet day. Still, a sell market until it can break above short term SMA.

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