Sunday, September 30, 2007

Still Positive

KLCI ends almost flat, closing +0.64 points at 1336.30 in heavy volume of 1.27 billion shares but off intraday high of 1344.13; Pre-weekend profit taking narrowed gains as short term retail investors sold into strength, but uptrend remains intact. Market breadth remained positive with advancers narrowly edging decliners 428 to 401. KLCI tipped in 1330-1350 range next week. Third quarter window dressing activities by local funds helped to keep the market buoyant while gains on Wall Street (Thursday) cheered retail players. Telekom's proposal to decouple its fixed and mobile operations was a positive move and is likely to lead the market's gains next week on requotation.


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