Monday, August 06, 2007

After Crashed We take a Vacation

Malaysia shares end down 3.3% at intraday low of 1290.90 in moderate volume of 1.29 billion shares; heavy falls in regional markets on DJIA's steep fall Friday cited. Market breadth negative; losers thumped gainers 993 to 60. Benchmark tipped in 1285-1300 range Tuesday. Sell orders from foreign funds, citing weaker ringgit (vs. US$) and expectations of a steeper decline in coming days, triggered the selling. There was no sign of any active buying support from local funds either. USD/MYR at 3.4660 late from 3.4610 late Friday; tipped in 3.46-3.50 range in medium term. All eyes will remain on the U.S. markets tonight but any rebound is likely to be short-lived.

No Tomyam Shopping List for Today

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