FBM KLCI Still Well Supported

The 30-stock FBM KLCI had earlier in the day fallen by more than 12 points before clawing back and narrowing some of its losses, this really show that the index is controllable.

However, global markets were rattled after China’s central bank decided late yesterday on a 25-basis-point hike in one-year deposit and lending rates, a move that was seen as possibly marking the beginning of a more aggressive phase of monetary tightening.

So China is start to cool off the recovery but Malaysia still did not cool down the in flow of hot money.

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