Malaysia Market
FBM KLCI end slightly higher weak rebound as investors sentiment mixed by news that IMF expects better for US economy this year and concerned over Euro debt crisis. The FBM KLCI closed up by 2.7 points to 1,598.9, the most active counters were seen in Metronic Global, Ariantec Global, Supercomnet Technologies and Focus Dynamics
The FKLI spot month contract closed down by 4.0 point to 1,594.0 the futures index closed at a volume of 4,213 lots and open interest at 28,239 contracts.
European stocks declined as Bank of England policy maker Adam Posen ended his support for more stimulus, falling house prices signaled slowing growth in China and bad loans surged in Spain. Meanwhile Asian stocks rose, with the regional benchmark index headed for its biggest gain this month, after the International Monetary Fund raised global economic forecasts and Spain sold more debt than targeted, boosting the earnings outlook for exporters.
Today market may see to traded lower as frail rebound yesterday may continue to be negative sentiment followed by lower corporate result among biggest company in the world. We remain see support levels stick at 1591 and 1584 while the resistance levels are at 1611 and 1621.
US Market
U.S. stocks fell, after the biggest advance in more than a month for the Standard & Poor’s 500 Index, as Intel Corp. and International Business Machines Corp. drove a slump in technology shares after reporting results. The S&P 500 fell 0.4 percent to 1,385.14, The Dow Jones Industrial Average slid 82.79 points, or 0.6 percent, to 13,032.75. About 5.9 billion shares changed hands on U.S. exchanges, or 12 percent below the three-month average.
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