New highs expected

Wall Street positive close last Friday is expected to lift both indices in today's trading. The STI should continue to rise to test its 3,906 high again soon. The KLCI, at its all time high of 1,398, is expected to continue to rise further as the momentum players continue to chase the index higher. KLCI could hit 1,410 soon today. The longer term target for the KLCI is 1,444-1,460. Construction, property and plantation stocks would shine. Lower liners would likely outperform its more mature peers this time round.

Both indices would likely be still affected by what happens on Wall St. Like what I mention last Wednesday, this rebound on the Dow is probably the sideways (or leg up) before 1 more leg downwards within a month or so. Then only the Bull market would likely kick in thereafter...