Tuesday, March 15, 2011

Morning start....fkli soft 1490-95 fcpo firm 3550-60

DJ/Europe near -0.5% within or better than Asian expextations.

8.25 : DJ futs -30. NK selloff continues, -500/-5% as investors cashing out. Regional seen steady, benefiting from re-construction phase in the coming weeks.

FKLI
-NK perfomance would limit gains but upside target is raised to 1506 from 1500, with rebound mode if > 1490. Dwside seen similar to Mon's lower band 1480 looks safe.

FCPIO
SO +0.2%, external favors some rebound after fcpo has fallen RM250 in the past 3 day. Testing 3550-60 resistance. A breach would set rebound tone for the day, no major sell signal then.

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