Wednesday, May 30, 2007


KLCI ends down 0.3% at 1339.18 in thin volume, recovering from midday slump to 1331.21. Sharp falls in Chinese stock markets following a hike in stamp duty to cool speculative activity cited for market's weakness. Market breadth remained deeply negative with decliners thrashing gainers 729 to 190 but KLCI expected to hold 1330-1350 trading range. Investors were already cautious ahead of 1Q GDP data. The China factor just accelerated selling pressure as some investors expected the duty hike move to trigger a much larger correction. However, mild bargain hunting by local funds and a flight to more resilient plantation stocks helped to buffer falls, suggesting further declines may be muted.


  • Malaysia GDP Up 5.3% In 1Q, Beating Expectations
  • SAAG Surges; Rig Contract Speculation
  • E&O Ppty; UBS Keeps As Buy, Tgt MYR4.45
  • UBS Keeps Buy On PLUS, Target MYR3.40
  • Aseam Starts Mah Sing With Buy, Target MYR5.90
  • Citi Keeps Buy On SapuraCrest; Tgt MYR2.15
  • Morgan Rates MAS Overweight, Targets MYR7.50

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