Euro Sovereign Debt Crisis averted?...

Well, guess if you use the yesterday's equity market performance to gauge and looking at the whole world response to the news that the European leaders have agreed on the below

1) 50% write down of the Greek govt debt
2) Increased EFSF to 1.4 tril and its bailout mechanism
3) Recapitalization of banks in euro region

Is that all it takes to resolve the problem? No.
Regardless, its at the very least a plan finally from the European leaders despite the cancellation of the Wed finance minster meeting which I think could have happen unofficially nonetheless.
Anyway, the fundamental problem is easy that is the european government and its people spent too much, too fast and produce too little. When you're in such situation, it is as good as you are earning $5k monthly but have a monthly debt commitment of $5k to meet if not more. how to survive? well, first get real and face the reality and embark on a plan to restructure the cost structure. In this case, Greece needs to stimulate earning growth and increase revenue while at the same time reduce expenditure of the government.

The entiutlement mindset of the people have to change, from entitlement to well deserve.
Untill that culture is changed, the sepeople will always find that the government is not doing well for its people. I am not saying the governement is not at fault but I am saying the people is equally at fault for having such expectation (entitlement mentality) from the government.

So back to the the KLCI, stocks are moving well and many blue chips have indeed recorded stellar movement of late. Look at Genting, Mahsing, UEMLand, IJM. I am bringing you back to these 2 counters... MBSB and OSK...

MBSB, still ridiculously undervalued and expected to jump once the company posts its quarterly results.

OSK, a good buy especially when many are expecting a RM2.30-RM2.50 price offer from RHBCap. Personally, if I am Ong Leong Huat, I will not sell unless its RM2.50 and above.