Tuesday, March 06, 2007

Still No Buy Signal

Yeah! its a rebound alright, however still unclear about the direction yet + no buy signal at all. As for today KLCI ends +1.8% at 1130.96 on bargain hunting by both local and foreign funds in property and construction stocks. Assurances by both PM Abdullah and central bank governor on domestic economy resilient amid market volatility instilled some confidence while rebound in regional bourses helped keep market buoyant. As for tomorrow KLCI is expected to trade within 1120-1150 but cautions profit-taking into strength may narrow gains as concerns over unwinding of yen-carry trades persist.

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