Government Measures:
- A long and bumpy road.
- Market is driven by news flow, and this will continue to provide support for certain key stocks.
Corporate Highlights
Glomac:
- Buying back 18 units of Suria Stonor.
- Maintain Outperform rating, with a fair value of RM2.09.
Perwaja:
- Constructing a concentration and pelletising plant in Kemaman.
- Indicative fair value is RM1.37. Maintain Outperform.
Technical Highlights
Daily Trading Strategy:
- Trading sentiment turning more upbeat.
- FBM KLCI managed to sustain at above the supportive 10-day SMA in the recent sessions.
- Given the robust trading volume and the active rotational interests recently.
- Trading sentiment is poised to turn even more positive in the near term.
- Lower liners and the selective sectors like construction, plantation, brokerages and property-related counters are expected to lead trading action.
Daily Technical Watch: Sino Hua-An
- Next target is to cover a tiny technical gap at RM0.435
- Immediate Support at RM0.31
- Immediate Resistance at RM0.435
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