Downward Bias

KLCI +0.4% at 1322.40, off intraday high of 1327.82; market breadth negative with decliners leading gainers 411 to 278 as profit-taking narrows early rise.Market likely to drift within 1315 to 1325 with downside bias for rest of day as investors lock in profits. Buying interest in blue chips is largely from local funds. There's a fair amount of retail interest in speculative issues, such as Golden Plus and Nagamas, but this is mostly due to day traders.