Today's Market Preview - 30 July 2010
Our Malaysian bourse may continue its slow-and-steady climb today despite an overnight drop on Wall Street (which saw major U.S. equity barometers slipping between 0.3% and 0.6% at the closing bell).
Essentially, the benchmark FBM KLCI – after getting a 3.2-point lift from just one counter (Axiata) yesterday – could ride on the rising momentum that had driven up the bellwether by a combined 12.7-point or 0.9% in the past four days. Sharing our marginal positive bias view are the futures participants, as the Aug month futures contract for the FBM KLCI rose to 1,364.50 (representing a 6.1-point premium) yesterday.
In terms of scheduled news flows, only the monthly banking statistics for Jun is on tap later in the evening.
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Essentially, the benchmark FBM KLCI – after getting a 3.2-point lift from just one counter (Axiata) yesterday – could ride on the rising momentum that had driven up the bellwether by a combined 12.7-point or 0.9% in the past four days. Sharing our marginal positive bias view are the futures participants, as the Aug month futures contract for the FBM KLCI rose to 1,364.50 (representing a 6.1-point premium) yesterday.
In terms of scheduled news flows, only the monthly banking statistics for Jun is on tap later in the evening.
Report by
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