Local market fell on the open and then made a surprise recovery on the back of global investors trying to find a home out of Japan. Local market was supported by Banks turning positive from negative during the day while the outperformers were Gold and Energy when the Miners were the worst performers. Stock of the day is MYR….big trading day with over 10% of the shareholding switching hands and the media speculating on M&A….massive shorts and some of it is likely to get covered…short term positive even if the M&A does not play out.
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