Wednesday, 12 September 2012

FKLI Related News
Stocks rose for the fourth time in the past five sessions as volume
picked up on both major exchanges Wednesday. The indexes
gapped up at the open on news from Europe. Germany's high court ruled that Berlin's approval of a bailout fund for debt-ridden European Union nations was not unconstitutional. (Investor’s Business Daily)
Meanwhile, investors awaited the results of the Federal Reserve's rate-setting committee, which is set to announce its latest statement after its two-day meeting ends on Thursday. Expectations that new stimulus measures will be announced are running high and helped push the Dow on Tuesday to close at the highest level in nearly five years.
Apple Inc shares staged a late day rally to finish up 1.39 percent to $669.79 after it unveiled its much anticipated  iPhone 5.  The product, which will feature a bigger screen, an improved camera and better battery life, was largely in line with consensus estimates. Facebook Inc jumped 7.7 percent to $20.93 after Chief Executive Mark Zuckerberg hinted at new growth areas from mobile to search in his first major public appearance since the No. 1 social network's rocky IPO in May.
The Dow Jones Industrial Average rose 9.99 points, or 0.08%, to close at 13,333.35, its highest finish since December 2007. The Nasdaq Composite added 9.78 points, or 0.3%, to 3,114.31.
European markets finished a touch higher, after Germany's Constitutional Court cleared the way to allow the country to ratify the euro zone's permanent bailout fund. The Stoxx Europe 600 finished with a gain of 0.1%, at its highest closing level since July 8, 2011, and Germany's DAX climbed 0.5% to a seven-week high.
Asian markets rallied after Chinese Premier Wen Jiabao said economic growth would meet the official target of 7.5% for 2012. China's Shanghai Composite gained 0.3% and Japan's Nikkei Stock Average surged 1.7%.
The KLCI ended Wednesday flat at 1613.78. Today’s Support and Resistance is located around 1,600 to 1,630 respectively.

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