Strong rally, near year high mark. FBM powered by the likes of MAYBANK GENTING CIMB the three contributed about 70% of fbm total gains of 16 points. For the week, fbm.fkli near +30 points.
Banks strong after BNM up interest rate. Others point to the coming soon “invest in Malaysia” road show. I heard talks of election too. Or the fact that DJ is +ve on yearly basis after Thu’s closing . Anyway, very surprise with the momentum.
Market every strong in PM session despite a strong run in AM and ahead of the weekend.
Technically, mkt is in fresh bullish zone, targeting 1300-1314.5 band if opens higher on Monday before profit take. Immediate support is raised to 1300. Trend support is raised to 1290.
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