Thursday, May 10, 2007


KLCI ends +0.4% at 1355.62 in thin volume despite persistent profit-taking; bargain hunting in select blue chips and heavyweights after 2-day losing streak helped lift market. However, market breadth was negative with decliners outpacing gainers 440 to 382. Wall Street's gains overnight and the ringgit's strength (USD/MYR slid to 9-year low of 3.40) helped to stir fresh buying interest especially in banking and plantation stocks. KLCI likely to stay in 1350-1360 range tomorrow as investors lock-in profits ahead of the weekend.

And Dow Jones also look likes in a correction mode (Gosh!!)



  • LBS Susp'd; China Waste Water JV Plan - LBS suspended related to MoU with Shanghai Jiao Tong University to establish JV partnership to carry out waste water treatment and reduction of ammonia content in water. LBS says MoU will enable company "to explore a smart partnership for venturing into the biotechnology business and enhance its position and presence in China." MoU also in line with group's strategy to expand revenue base. However, no impact expected on NTA or EPS in FY07 until formal agreement executed. Stock resumes trade tomorrow.
  • Hubline Up As Shipping Fund Buys 7.1% Stake
  • Equine Up; Hedge Fund Buys 5.2% Stake
  • CIMB Starts Kencana At Outperform;MYR1.72 Target
  • Aseambankers Starts Ramunia At Strong Buy; Target MYR1.80
  • ECMLibra Rates Lafarge A Hold, MYR1.50 Target
  • DiGi Tie-up Speculation Buoys Time dotCom
  • Kencana Up On MYR132M O&G Platform Contract
  • Muhibbah get Lands MYR41.4M Job
  • S&P Ups Bolton To Buy; Ups Target To MYR1.14

No comments: