Asian markets rallied, aided by comments from Bank of America it was profitable in January and February and should be able to ride out the recession without any additional help from taxpayers.
Local share prices rebounded with Bank stocks recovering some of the losses seen in the last few days. However, KLCI just went sideway after hiking about 7 pts at the opening bell. Investors simply refused to take active roles lacking details on the 2nd Stimulus Plan.
The Key Indicator (Blue) of the Daily MSO Chart dipped exactly 2 pts to rest at -63.10.
The Indicator is still within the narrow passage and below its overhead resistances. Market will continue to move sideway with uncertainties until fresh lead emerges. (Click on Chart to view)
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