1,200 target breached

Our call for the KLCI to breach the 1,200 level and venture into a new 1,200-1,250 trading zone has been reached. The FBM-KLCI and global equities bulls are now in cruise control.
Shanghai : Failed to breach 3,000 resistance
Though the bulls are on cruise mode, we are not letting our guard down. The Shanghai Stock Exchange yesterday failed to break the 3,000 psychological resistance which is reinforced by the mid term MAV line
We will see if the Shanghai Stock Exchange can succeed in piercing above the
3,000 resistance in the next few days. Its attempts to break through this barrier might increase the volatility in global markets in the next few days.

Maintain Bullish View
We maintain our bullish view of the FBM-KLCI and maintain our trading buy calls on all our stock recommendations. However, we will be keeping vigilant on the ongoings in the Shanghai market which is highly correlated to our very own FBMKLCI (85% correlation ).