Monday, August 13, 2007


KLCI ends +0.7% at 1296.48 in thin volume but off intraday high of 1305.17 as intermittent profit-taking narrowed broad market gains. Market breadth negative; decliners led gainers 509 to 324. The benchmark may trade in 1275-1310 band Tuesday with negative bias; note, KLCI failed to close above psychological resistance at 1300. Rising credit risk concerns continued to weigh on sentiment but local funds were more aggressive, value-hunting blue chips and some government-linked stocks. Investors will continue to keep an eye on U.S. markets and take their cue from there.


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