Asian markets extended their rally today, underpinned by hopes over the US toxic-asset programme. Japan jumped another 3.32%, Hong Kong 3.44% and Singapore 2.54%.
However, Malaysian market has the lousiest show today, instead, with KLCI closed at 877.92 lost 0.38 points. The fall was due to profit taking as investors focused on the Umno general assembly for any adverse development.
However, dealers said the market sentiment was still positive based on the outcome of the Umno General Assembly. One research house said the last time it saw a sudden pick-up in trading interest was in the beginning of January, which persisted for four consecutive days.
The Key Indicator (Blue) of the Daily MSO Chart remains bullish after today’s Trade. The Indicator is now at +65.47 gains another 28.92 pts.
Barring any unforeseeable circumstances, market sentiment should remain bullish, at least before the closing of UMNO Assembly. (Click on Chart to view)
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