To Buy or Not To Buy

Malaysia shares may see a technical rebound tomorrow. If anything go wrong, the 1359 (30-day moving average) could offer firm support. Anyway there should be some windows dressing activities toward the end of June. KLCI shed 0.7% to end at 1366.99, off intraday low of 1363.90, in heavy volume with decliners outpacing gainers 641 to 282. We did not escape the effects of sharp declines U.S. stocks and regional markets. However, this pullback could be viewed as healthy profit-taking from the KLCI's recent rally (to record high of 1391.57 on Jun.22). Cautions, failure to hold 1359 support could drag KLCI back down to 1319.75 (May 25 low). Notes, some property stocks and handful of blue chips managed to buck trend. Asset reflation theme helped to lift the property counters while construction plays also on the move in anticipation of handful new contracts.

TOMYAM SHOPPING LIST
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AYAM TALKs

• Boustead Group Gains On Foreign Fund Interest
• Multi Vest Susp'd;May Be Eyeing Indon Plantations
• TA Has AMDB As Sell On Rally Based On Charts
• TA Keeps Gamuda As Sell, MYR8.75 Target
• Saudi Telecom To Buy 25% Stake In Maxis, 51% In PT Natrindo
• Kim Eng Rates AMDB A Trading Buy, 44 Sen Target
• Favco A Strong Buy Based On Charts - MIMB
• Malaysia Proton Talks To Wrap Up By End 2007-Khazanah
• Compugates Flat Despite 10:1 Share Split Plan
• Equine Down On Bursa Caution
• Sapuracrest; Seadrill Ups Stake To 11.27%
• Tenaga, Eden Part Of JV In Sabah Pwr Plant Project
• Hextar Withdraws Planned 2nd Board Debut
• S&P Cuts Malton To Hold, Keeps On 60 Sen Target