With the backing of a strong close on Wall St, we should be able to see a better performance on both the STI and KLCI. Nevertheless, I think that there is more upside potential in the small cap or penny stocks.
Yesterday, a lot of MESDAQ counters saw a pick up in trading volume. The MESDAQ index also rose about 1.6% yesterday. I think MESDAQ would continue to see positive days ahead. Besides, there is less overhang (stale bulls) in these counters compared to the ones on the 2nd Board. I like Insbio (0088), I-Power (0069), MQTech (0070), FTech (0033) and ISS (0131).
In Singapore, Hi-P also just broke out of its major resistance. For a longer term play, now I prefer these two stocks - Asti and Hi-P. I also like Seksun, Beyonics, Meiban for their technical and fundamental outlook (note: these stocks have moved quite considerably from their lows or breakout levels).
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