Tuesday, July 10, 2007

I'm So Selfish

Malaysia shares end down 0.5% at 1371.45 in moderate volume on profit-taking but bounced off intraday low of 1366.99 as local funds bottom fished some oversold heavyweights. Market breadth stayed negative with decliners leading gainers 483 to 424. KLCI tipped in 1366-1383 range tomorrow, buoyed by bargain hunting. The benchmark's ability to stay above its 30-day moving average (1366.12) support (held for more than 3 months) suggests bargain hunting may pick-up momentum tomorrow.


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