Overall, the bias is: Upwards.
Short term: stalling.
Intermediate term: trending.
The projected upper bound is: 1,391.79.
The projected lower bound is: 1,334.54.
As at Friday, KLCI ends +1% at 1360.07 in thin volume, rebounding from intraday low of 1346.21 on bargain hunting by both local and foreign funds. Market breadth positive with gainers leading decliners 554 to 277. The resilient China market and gains on Asian bourses help to attract fresh funds into equities. Although volume traded remained thin, the market's gains overshadowed the Transmile issue despite the stock plunging 32.6% to MYR6.
FRIDAY AYAM TALK:
- PLUS To Buy Elite, Linkedua For MYR866M
- Volkswagen: Proton Talks On Strategic Tie-up To Continue
- BCHB:SBB Assets Had Been Overstated By About MYR160M
- Khazanah: Hopes To Name Proton Partner In 3 Months (1st round sudah kencing kuat- 2nd round mau kena lagi ka .... heh heh LOL)
- Proton Could Have Local, Foreign Partners
- Khazanah: May Sell TIME dotCom's 3G Licence
- MIMB Cuts Transmile To Sell, Target MYR5.90
- CS Keeps Outperform On IJM; Cuts Tgt To MYR10.30
- CS Keeps Star Pub At Outperform, MYR4.50 Target
- UBS Ups SP Setia To Buy, Target Of MYR9.35
- S&P Keeps Tanjong As Buy; Ups Target To MYR21