Sunday, September 16, 2007

Still Nothing Much

Malaysia shares end +0.4% at 1289.50 in thin volume, off intraday high of 1294.68 as pre-weekend profit taking dragged most stocks off their highs. Market breadth remained positive despite mild selling pressure; at close gainers outpaced decliners 498 to 290. KLCI tipped to trade within 1281-1305 range next week. Wall Street's gains overnight helped to muster-up some buying interest among retail investors and local funds but foreign funds continued to sell into strength. Volume traded was relatively thin as most investors were reluctant to take up fresh positions ahead of the FOMC meeting on Tuesday.


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