RM strengthened against most currency

Suddenly a swing of mode and RM closed closing to 2% up from low to USD,  SGD, AUD and etc.  Partly due to strong GDP announced and also FED comments to continue its existing tapering amount for at least few more months.  We also suspect slow down in foreign equity net selling and exiting local bourse may attributes to this.  The band of Fluctuation is widen and more volatility ahead.  We added AUD at 2.92 level.

KLCI to trade range bound bias to lower close

This season of reporting quarter result has not ended yet.  However, weaker performance dominated across.  We believe if this is the situation and KLCI may suffer another quarter weak performance due to global weather issue that has affected both US and China.  Together with local inflationary issue on cost to production of businesses.  The next crucial point is earnings between Jan to March 2014.  As such, any upward buying for KLCI at 1830 level above is fragile. 

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