Undermined by the decline in overnight Wall Street, Malaysia index futures started the day on a softer note. Prices traded in meandering mode throughout the morning session mirroring the performance of its underlying cash on lack of fresh lead to spur buying interest. Prices attempted to climb higher in the afternoon session but succumbed to selling pressure due to uninspiring movement in European market and DJ futures amid concerns that a rally that drove equities evaluations has outpaced the prospects for economic growth. At the close, Sept 09 contract settled 3.5 points lower at 1165.5.
Taking cue from the decline in the overnight in Wall Street as concern banks will post more losses overshadowed manufacturing and housing data that topped economist estimates, futures is poised to trade lower today with the support and resistance pegged at 1152 and 1170.5 respectively.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment