Tuesday, July 31, 2007

KLCI set to test 1392.18

Malaysia shares end +1.6% at 1373.71 in heavy volume and poised to test 1381 resistance (upper limit of July 27 gap down) tomorrow in follow-through buying; market breadth positive with gainers leading decliners 535 to 382. Buying interest in construction, property and water infrastructure related stocks continued to buoy the market following the launch of the NCER. Some big-cap stocks rebounded from the recent sell-off, supported by bargain hunting by foreign funds. Cautions some stale bull selling may cap gains but if index manages to close above 1381, market will poised to test its all time high of 1392.18 by end week.



  • OSK Ups MMC To Trading Buy;Target To MYR8.20
  • Pilecon Undervalued Property Stock-Dealer
  • OSK Keeps VADS At Buy; MYR10.50 Target
  • HLG Restarts Suria With Buy, MYR2.10 Target
  • Ranhill +2.8%; OSK Keeps Buy Rating, MYR3.80 Tgt
  • MIMB Ups Tanjung Offshore Target To MYR4.08; Buy
  • Keladi Maju - Northern Region Ppty Play
  • Time dotCom, Time Slip; Deny China Mobile Deal
  • Khazanah Has Made No Decision On TIME dotCom - Source

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