Thursday, August 02, 2007

Dunno where to go lah

Malaysia shares end down 0.5% at 1333.28 in moderate volume, off intraday low of 1323.76; follow-through selling, primarily by foreign funds, cited as key reason for weakness due to concerns over credit risk in the U.S. and weaker ringgit. Decliners outpaced gainers 638 to 288 but dealers note mild bargain hunting by local funds helped pare losses late. KLCI tipped in 1320-1340 range tomorrow with downside bias as investors unwind positions ahead of the weekend. The decline in volume traded and the lower loss/gain ratio compared to yesterday suggests selling pressure is easing but investors will continue to take their cue from DJIA's performance tonight.


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