LOCAL MARKET EXPECTS TO HOLD FORT, SAYS MIDF

KUALA LUMPUR, Sept 2 (Bernama) -- The FTSE Bursa Malaysia Kuala Lumpur
Composite Index (FBM KLCI) is expected to hold the fort despite the anticipated
weakness on Wall Street, says MIDF Research.
The Dow Jones Industrial Average fell 185.7 points or -1.96 per cent from
9496.3 to 9310.6 due to profit-taking on Tuesday.
The tone is set for the next few weeks for depressed sentiment as the
market discounts the positive macro news, said MIDF.
However, regional equity market momentum is not expected to be broken as
liquidity is still flowing into the market, said MIDF in its research note.
" Last week, foreign fund purchases of equity in six Asian markets (Taiwan,
South Korea, India, Thailand, Indonesia, the Philippines) surged to US$2.7
billion," the research house said.
Meanwhile, September is expected to be a lull month for the local market as
the market is wary of the Wall Street and awaits the next wave of positive news
flow after the encouraging 2009 earning numbers.
-- BERNAMA
WNA TOM