Share prices on Bursa Malaysia was on bullish path amid of downturn in global equity market(refer here). Despite the high index level, the overall daily traded volume remained low. It is widely belief that current market participations are local institutions and a few of day traders, not many retail and foreign investors. In other words, current institutional investors consist of such government link funds…EPF, PNB, Khazanah, Tabung Haji.

How long can they last. I believe if there is no major setback in US and European markets, the locally driven equity market will not be inflicted.

With FBM KLCI going for 1450, last Friday high at 1415.28 is at 1.618 fibo extension of previous swing high to low in May. Therefore possibility of price correction.