Monday, June 11, 2007

Cautious Trade

I think, Malaysia shares may continue to trade within 1352-1370 range tomorrow after rising 0.4% to 1357.66 in moderate volume triggered by Wall Street's gains Friday. Market breadth stayed positive with gainers leading decliners 604 to 317. However, profit-taking into strength likely to cap gains, much like today's trading pattern. Bargain hunting in blue chips and some heavyweights helped to lift the benchmark to an intraday high of 1367.94 but some caution is being exercised ahead of (U.S.) CPI data. Expects oil & gas stocks to continue to dominate gainers while rotational interest in construction and property stocks may keep market buoyant.


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