Malaysia Market
Stocks traded on Bursa Malaysia closed lower yesterday amid on weak sentiments and persistent worries on the global economy.
FTSE Bursa Malaysia lost 2.93 points or 0.19% to closed at 1,579.35. Meanwhile FKLI Futures traded on Bursa Malaysia Derivatives closed mixed amid on easier cash market with April 2012 contract remain flat at 1576.5 and May 2012 lost 2 points to close at 1,577.
Today, market are expected to lost its momentum after Federal Reserve Chairman Ben Bernanke said on Wednesday that he is comfortable with the current stance of interest rate policy given the forecast that economic growth will remain moderate over coming quarters.
Support can be seen at 1,565 and 1,570 while resistance stays at 1,580 and 1,585.
US Market
U.S. stocks Wednesday rallied for a second day, getting a lift from Apple Inc. and Boeing Co. results and after the Federal Reserve, while keeping rates unchanged, left the door open for future easing if economic strains required it.
The Dow Jones Industrial Average ended up 89.16 points, or 0.7%, to 13,090.72. The S&P 500 added 18.72 points, or 1.4%, to 1,390.69. The Nasdaq Composite rose 68.03 points, or 2.3%, to 3,0290
FKLI futures closed lower yesterday as investors concerned about global slowdown issue due to yesterday most of the data released from European zone was shown that economy growth was slowing down.
Today market expected will continues last few days sideway effect although US home sales report was better than expected but investor will consider economy slowdown issue in European zone. Support can be seen at 1,572 and 1,570 while resistance stays at 1,576 and 1,578.
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