Thursday, September 27, 2007

ECER: Local Funds Buying

KLCI +1.2% at 1336.02 in heavy volume, buoyed by local funds ahead of Eastern Corridor Economic Region announcement by Petronas; market breadth positive with gainers leading decliners 481 to 231. Overnight gains on Wall Street as catalyst, while absence of selling pressure from foreign funds allowing market to gain traction. Benchmark tipped to rise to trade in 1320-1334 range for rest of day with upside bias. Some window-dressing (by local funds) can be expected as we approach the end of the of the third quarter.


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