As at time of writing KLCI was down 9.8 pt to 1027.9 pt. The bearish global stock market in the past couple of weeks could triggered the mood. However, I think there should be slightly upward bias toward end of the week. After the long festival celebration, the player already came back. Malaysia multi-billion economy stimulus package on the hype again and should provide the much needed lead in the market. More details on the recently announced multi-billion-ringgit government projects will be announced. Construction sector should be in the trend again. Notable also the hype on Maxis re-listing, easily could be the IPO of the year especially with this year's dismay IPOs first day's performance.
Any upward trend should meet current resistance and target zone around 1,250 pt.
Important coming event is Malaysia budget 2010 which will be tabled on 23rd October 2009. Heard there will be surprises.
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US market : The rally in U.S. stocks, which stumbled in recent days on worries about the economic recovery and continued government stimulus, will be tested this week by crucial data on growth and jobs.
Readhttp://finance.yahoo.com/news/Stocks-rally-to-be-tested-by-rb
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