Trading outlook for 08 February 2010
Local equities might start the week mixed, as regional investors go on their 'wait-and-see' mode, to check if market psychology would tilt on the US market's ability to reverse an earlier 167-point decline Friday, or otherwise. For now, global developments are likely to overpower local headlines, even after inflation for January came out better than what most economists anticipated. Select large caps might still succumb to profit-taking however, as some investors switch part of their funds either at the forex or fixed income market. Trade cautiously. Immediate support is 2,830, resistance at 2,870.