Wednesday, August 22, 2007

La la la

KLCI ends +1.9% at 1255.39 in moderate trade led by gains in shares of government-linked companies and blue chips on value hunting. Market breadth remained positive; gainers outpaced decliners 849 to 107 at close. KLCI tipped to trade within 1250-1266 (50% retracement of fall to 1141.45) Thursday in follow through buying. Healthy dose of bargain-hunting by local funds. This triggered retail interest in lower-liners and penny-stocks while positive earnings surprises also encouraged fresh focus on stock fundamentals.


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