Tuesday, August 28, 2007

Still underpressure

Malaysia shares end almost flat in moderate volume, edging up 0.68 points, or 0.1% to close at 1278.95 as local funds lend buying support in last hour of trade. Market breadth remained negative throughout the day with decliners leading gainers 556 to 279. The index likely to consolidate in 1266-1296 range ahead of Independence Day holiday on Aug.31. Investors used the DJIA's overnight decline as an excuse to lock-in gains. Positive newsflow helped to lift property and water sector related stocks but the broader market stayed under pressure.

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