Today’s KLCI Tracker:- (14/05/10)

Overall medium technical readings say positive run is intact.
- Expect KLCI to climb higher to test 1,350 – 1,370 band again soon. Range 1,400 – 1,410 is the next resistance.- 1,325 – 1,330 range is the immediate support; 1,300 – 1,305 is the next.
- Any pullback presents us with buying opportunities.

Momentum tracker for the day:-
Unisem- Medium – term positive money flow still intact and will continue- Stock is retesting the RM3.50 – RM3.60 range, eventually reaching the RM4.00 – RM4.50 band. The stock is consolidating positively in RM3.00 – RM3.20 range support.- Current pullback is a buying opportunity.

Today’s Fundamental Highlights:
– Banking (OVERWEIGHT, maintain) - 2nd round OPR hike*
- Company Update – Sime Darby (ADD, maintain) - Negative impact of RM964m in 2HFY10*

- Outside Malaysia-
- U.S. stocks fall as banks, retailers decline; Cisco retreats- U.S. import prices increased 0.9% in April on oil.
- U.K. trade deficit widened in March on import jump.
- Thailand’s confidence falls a third month on protests- Oil poised for second weekly drop on dollar’s rise against euro.