KLCI ends +0.7% at 1068.29 in heavy volume of 1.4 billion shares led by blue chips, plantation and construction stocks; market likely to extend gains tomorrow to retest year high of 1071.82 Fueled by hopes of more M&A among banks, media groups and possibly some government-led companies. Among gainers, plantation stocks extended rally on surging CPO prices. Plantation companies involved in government driven mega merger resume trade Wednesday; likely to give market another leg-up. Media group NSTP ended +10.7% at MYR2.49 on Singapore BT report company plans to form Malaysia's largest media group via merger with Utusan Melayu +14.7% at MYR1.25.
Technical Readings:
KLCI
For 27 NOV KLCI closed at 1,068.2900. Overall, the bias is Upwards. The projected upper bound is 1,084.53. The projected lower bound is 1,056.62.
SPOTMONTH (NOV)
For 27 NOV SPOTMNTH closed at 1,068.5000. Overall, the bias is Upwards. The projected upper bound is 1,085.49. The projected lower bound is 1,056.19.
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