Sunday, August 05, 2007

Get Ready For a Wild Ride

KLCI will likely trade within 1300-1350 range next week after closing +0.2% at 1335.42 in moderate volume after trading between intraday high of 1350.09 and low of 1333.40. Construction stocks led gains on speculation over upcoming infrastructure projects while finance stocks were lower on concerns over credit risk. Volume totaled 1.1 million shares while market breadth negative with decliners outnumbering advancers 452 to 424. The market was firmer in early trade following the rebound in U.S. stocks but gave up some of its gains on pre-weekend selling as investors generally don't like to have open positions amid global uncertainty.


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