KLCI will likely to head for a mild correction in tandem regional markets

We believed KLCI will trail HSI, Dow Jones and Euro markets for a mild correction. Support around 1830 – 1840. We sold some Plabs at RM 0.295 and HHgroup at RM 0.580. However we bought back into MBSB at RM 2.270 and MNRB at RM3.61.

RM will continues recover against all major market currencies as oil price starting to recover. We will start buying more AUD if stable around RM 2.80 – 2.82. AUD strengthen drastically due to an unexpected fall in unemployment rate.