KLCI ended the day with a lot happy faces in the street - it is at a new high of 1489.74, up 18.96 points at today's close.
Maybank, Equine, MRCB and a long list of other government linked companies were the star performers for today. Plantation stocks saw some profit taking, albeit a light one. And now everyone has nice things to say about the country's economy, even Lee Kuan Yew is feeling positive about our economy outlook for the year!
Will the bull run last to the end of the month? The answer: very likely, and more.
When all these positive sentiments are backed by good company results and earnings for Q1, we can expect a calmer and more resilient market. Local research houses however, maintained that we are still facing a volatile Q1 (read Aseambankers' review).
But good days will continue, for now...
Other news...
President George W. Bush and Treasury Secretary Henry Paulson said that U.S. economic indicators are sending ``mixed'' signals and that they are considering whether a stimulus is needed. Former Treasury Secretary Lawrence Summers and Harvard University's Martin Feldstein are among the economists saying a policy response, including tax cuts, is needed to avoid a recession. The last U.S. economic contraction occurred in 2001, Bush's first year in office. (Bloomberg)
Maybank, Equine, MRCB and a long list of other government linked companies were the star performers for today. Plantation stocks saw some profit taking, albeit a light one. And now everyone has nice things to say about the country's economy, even Lee Kuan Yew is feeling positive about our economy outlook for the year!
Will the bull run last to the end of the month? The answer: very likely, and more.
When all these positive sentiments are backed by good company results and earnings for Q1, we can expect a calmer and more resilient market. Local research houses however, maintained that we are still facing a volatile Q1 (read Aseambankers' review).
But good days will continue, for now...
Other news...
President George W. Bush and Treasury Secretary Henry Paulson said that U.S. economic indicators are sending ``mixed'' signals and that they are considering whether a stimulus is needed. Former Treasury Secretary Lawrence Summers and Harvard University's Martin Feldstein are among the economists saying a policy response, including tax cuts, is needed to avoid a recession. The last U.S. economic contraction occurred in 2001, Bush's first year in office. (Bloomberg)
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