Monday, June 25, 2007

Eyes on Wall Street

KLCI likely to consolidate within 1375-1385 range tomorrow in moderate volume after closing 1% lower at 1377.13 today; cautious tone followed declines in U.S. stocks Friday and softer start to regional bourses. Market breadth ended positive with advancers leading decliners 449 to 442, suggesting declines mitigated by mild bargain hunting. We had a hefty run-up in share prices last week to a record high of 1391.57. Weaker regional markets provided an ideal excuse to take profit.

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