Here is the weekly chart and Genting not holding its ground despite good news - Genting Bhd Thursday announced that pre-tax profit for its financial year ended Dec 31, 2009, increased to RM2.528 billion from RM1.735 billion in the previous year.
· No property tax
· No local or state taxes
· A reasonable 35% tax rate for the highest earners
· Corporate tax rates of zero percent for 3 years and 15% per year after that.
“Also, most importantly, it’s not a casino economy like the States. China will sell 30% more vehicles this year than in the U.S. 93% of those vehicles will be purchased cash upfront.
Last Friday – upthrust bar maybe invalidated if KLCI can close higher !