Malaysia Market - Mid-Day Comments

12:30 Asian markets boosted by China‘s interest cut mostly surged higher. Japan was up by 2.34%, Hong Kong 3.51% and Singapore 0.69%.

Local market also motivated by the positive move with KLCI gained 12.25 points or 1.43% and settled at 868.62.

But, it took a long hour to convince investors to come back to market as MSO fell from its high at 288.25 to 146.41. Market sentiment improved slowly only after the Index broke through the 866 resistance. Volume increased from 1.06 mln to 2.26 mln per minute during the last one hour trading of the morning session.

Market should be sustainable with increase buying interest.