FBM KLCI rebounded after four days drop as investors bargain hunting over blue chip stock and followed by regional bounce back. The FBM KLCI ended up by 8.2 points to 1,544.2 and the most active counters were seen Ariantec Global, Petronas Chemicals, Parkson Holdings and JCY International.
The FKLI spot month contract surged by 10.0 points to 1,534.0 the futures index closed at a volume of 11,140 lots and open interest at 29,123 contracts.
European stocks declined for a fourth day as the region’s central bank paused lending to some Greek banks and speculation mounted that Spanish banks may have their credit ratings cut at Moody’s Investors Service. Meanwhile, mainland Chinese and Taiwanese stocks led most Asian markets higher Thursday on relief buying after a string of weak performances, although Hong Kong shares suffered a late retreat amid lingering worries over Greece.
Today market may see to be traded lower due to poor condition on external factors such as a disappointing US economy data last night and concern that credit ratings for Spanish banks would be cut. We see remain support levels at 1523 and 1504 while the resistance levels are at 1540 and 1553.
US Market
U.S. stocks hit a four-month low on Thursday as rising Spanish bond yields increased investor anxiety over that country's banks and another round of weak data undermined hopes for U.S. economic recovery. The Dow Jones industrial average dropped 156.06 points, or 1.24 percent, to 12,442.49. The Standard & Poor's 500 Index fell 19.94 points, or 1.51 percent, to 1,304.86 and The Nasdaq Composite Index lost 60.35 points, or 2.10 percent, to 2,813.69.
The FKLI spot month contract surged by 10.0 points to 1,534.0 the futures index closed at a volume of 11,140 lots and open interest at 29,123 contracts.
European stocks declined for a fourth day as the region’s central bank paused lending to some Greek banks and speculation mounted that Spanish banks may have their credit ratings cut at Moody’s Investors Service. Meanwhile, mainland Chinese and Taiwanese stocks led most Asian markets higher Thursday on relief buying after a string of weak performances, although Hong Kong shares suffered a late retreat amid lingering worries over Greece.
Today market may see to be traded lower due to poor condition on external factors such as a disappointing US economy data last night and concern that credit ratings for Spanish banks would be cut. We see remain support levels at 1523 and 1504 while the resistance levels are at 1540 and 1553.
US Market
U.S. stocks hit a four-month low on Thursday as rising Spanish bond yields increased investor anxiety over that country's banks and another round of weak data undermined hopes for U.S. economic recovery. The Dow Jones industrial average dropped 156.06 points, or 1.24 percent, to 12,442.49. The Standard & Poor's 500 Index fell 19.94 points, or 1.51 percent, to 1,304.86 and The Nasdaq Composite Index lost 60.35 points, or 2.10 percent, to 2,813.69.
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