And the Proverbial Sun Doth Rises

With the Eurozone and Wall Street sending better than neutral signals,local conditions will determine the direction of our local equities market.

As I see it, the culprit EPF seller may have sold enough to lock in its profits.Khazanah has also posted rosy figures to appease its stakeholders.

As the price of the blue chips got eroded,smart buyers; however small, have got into the action to beef up their portfolios with Maybank,Sime Darby, Tenaga and Telekom Malaysia shares.

I also believed institutions are back and buying into Digi, Public Bank and YTL Corp.

So, the FBMCI index rose about 10 points to 1573.43 by 10 am.

There seems to be many weak sellers in the field today and if there is sufficient traction on the blue chips such as BAT, CIMB, Shell and UMW, we should hold strong with this index.

Let us see how the trading day pans out.