KLSE Market in rebound mode

Market rebound is time to buy great stock at the great time, now a lot of people is panic buying does this show a bull market trend?
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PETALING JAYA: The FBM KLCI was in rebound mode after two days of panic selling and substantial correction from the government linked stocks.Dealers caution that anxieties over the Eurozone debt will continue to plague the market with fear. Furthermore, with speculation of the General Elections being postponed, there is no positive internal news to sustain interest and buying momentum.
A dealer said that for those who were long term in nature, this was a great time to pick up stocks. Trading oriented investors however should continue to stay on the sidelines, as market upside was capped for the moment. Volumes and interest could fizzle out within days.
The market can however look forward to the listing of Bumi Armada tomorrow.
Over in the US, stocks posted impressive gains on Tuesday, following a trio of good news: generally upbeat quarterly earnings from blue-chip U.S. companies, a better-than-expected reading on U.S. housing starts in June and optimism that Washington might be approaching a deal of extending the U.S. debt ceiling.
The Dow Jones industrial average closed at 12,587.42, up 202.26 points. The broader S&P 500 closed at 1326.73, up 21.29 points. The gains began early in the day, after investors began digesting the latest round of quarterly earnings. However, U.S. President Barack Obama's endorsement of a Senate plan to cut the deficit seen as a precursor to an agreement among politicians to raise the U.S. debt ceiling gave stocks an extra push.
At 10.20am, the FBM KLCI was up 8.19 points to 1,563.83. There were a total of 333 gainers and 117 losers with 195 stocks unchanged.
Tokyo's Nikkei 225 was down 1.34% to 10,022.6 and Hong Kong's Hang Seng Index was up 0.44% to 21,998.21.
Shanghai's A index was up 0.35% to 2,806.71 while Taiwan's Taiex Index was up 1.48% to 8,659.65.
Seoul's Kospi Index was up 1.16% to 2,154.97, with Singapore's Straits Times Index up 0.38% to 3,107.94.
Nymex crude oil was up US$0.78 to US$99.02 per barrel.
Spot gold was down US$11.60 at US$1,589.50 per ounce.
The Ringgit was traded at 2.998 to the Dollar.

Source: The Star