8:00 pm - Lower closing for KLCI

Malaysian shares close lower on local political tension, shaky US outlook

- KUALA LUMPUR (Thomson Financial) - Malaysian shares closed lower Friday as investors continued to trim positions ahead of the weekend given rising domestic political tensions and a shaky outlook for the US economy. The government detained five leaders of Malaysian Indian activist group Hindraf Thursday under a security law after the group held a mass anti-government protest in Kuala Lumpur last month. The Hindraf rally was held just two weeks after a demonstration was organized by electoral reform campaigners. The Kuala Lumpur Composite Index (KLCI) closed down 7.15 points or 0.5 percent at 1,403.41, off a low of 1,396.45. For the week, the KLCI was down 30.63 points or 2.1 percent. The FTSE Bursa Malaysia 30-large cap index dropped 58.53 points or 0.6 percent to 9,036.3 and the FTSE Bursa Malaysia second board index was down 7.17 points or 0.1 percent at 6,678.32. Decliners beat advancers 453 to 347 with 299 stocks unchanged and 246 counters untraded. Trading volume was thin at 668.5 million shares, valued at 1.66 billion ringgit.

7:52 pm - FKLI closed lower at 1395.0

The trend is still down. FKLI had 3 consecutive down bar in a row. Watch out for the reversal bar. Maybe next week.

12:55 pm - FKLI breakdown to 1389.5 lowest of the day.

However, TG indicates no signals. So we forgo the short trade

But now it has 3 strengths in intraday charts. HSI Hong Kong recover back. Looking to go long.

9:40 am - FKLI gap up due to support on DJIA.

Nikkei is positive and ST Spore is slightly positive.

Possibility to short FKLI at 1400 or below. At this point, think long.