Fkli performs pretty much within expectations, fbm a bit disappointing though, partly because of yesterday’s sudden jump. Fbm failure to catch up with fkli leads to premium-related selling after 4.30 pm. Overall, a quiet day.Fkli maintains it's flow of positive stance, above yellow-line, but will requires a strong fbm – meaning above 1220 to justify a breakout scenario – 2nd attempts in two weeks. Fbm technically outlook is affected by yesterday’s incident. Hopefully, no big deal as still above yellow-line. Up up the way..........
On the sidelines, very weak dollar across the board since Oct. Outflow of fund to invest outside US or confidence issue with US debt. ? Which one ??? It seems US deficit prblm will remain an issue forever, so lets think positive and opt for the former. Fact: weak dollar is one of the major charateristic in 2Q ( -4%vs RM, -3% vs Yen, -6% vs Euro) where equities prices rally.
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