KLCI ends down 0.8% at 1354.67 in modest volume, off fresh all-time high of 1368.87, on profit-taking. Sell trigger attributed to concerns over accuracy of air freight concern Transmile's FY06 accounts. The decline in regional markets also hurt sentiment, despite some solid quarterly earnings reports (locally). KLCI expected to trade in 1350-1360 range tomorrow. Market spread negative; losers outpaced gainers 719 to 205; Transmile sank 23.1% to MYR10 with JP Morgan cutting rating to Underperform from Outperform and target to MYR6.25 from MYR13.
TOMYAM SHOPPING LIST
TODAY AYAM TALK:
- Boustead To Keep UAC's Listing Status
- Boustead Makes Offer For UAC At MYR4.85 Per Share
- CPO Down On Profit-Taking
- Govt Won't Allow Offshore MYR Trade - Bernama reports Awang Adek Husin, in response to questions from Parliament's upper house, says government won't allow offshore MYR trade as it's speculative; also likened those who do such trading to "speculators" and "position takers."
- Deutsche Keeps Telekom On Buy Rating, Tgt MYR12
- Temasek Confirms Sold 3.3% Of Telekom Malaysia
- Central Bank Supporting Dlr At MYR3.4120
- DiGi.Com: Problems Meeting 30% Bumiputra Hldr Rule
- DiGi Committed To Making Capital Repayment -CFO
- Prime Minister Oks Pay Rise For Civil Servants
- JPM Cuts Transmile To Underperform;MYR6.25 Target